D. E. Shaw & Co. Inc. grew its stake in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 589.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,397,636 shares of the company's stock after purchasing an additional 2,049,981 shares during the period. D. E. Shaw & Co. Inc. owned approximately 2.37% of Honest worth $16,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ieq Capital LLC increased its holdings in shares of Honest by 61.3% during the 4th quarter. Ieq Capital LLC now owns 130,651 shares of the company's stock worth $905,000 after buying an additional 49,673 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Honest in the fourth quarter worth approximately $819,000. Vanguard Group Inc. increased its stake in Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after acquiring an additional 1,052,305 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Honest in the 4th quarter valued at $756,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Honest during the 4th quarter worth $409,000. Institutional investors and hedge funds own 45.54% of the company's stock.
Honest Price Performance
Shares of Honest stock opened at $5.07 on Tuesday. The stock has a market capitalization of $558.90 million, a price-to-earnings ratio of -126.75 and a beta of 2.43. The business has a 50-day moving average of $4.73 and a 200 day moving average of $5.77. The Honest Company, Inc. has a 12 month low of $2.40 and a 12 month high of $8.97.
Honest (NASDAQ:HNST - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The firm had revenue of $97.25 million during the quarter, compared to analysts' expectations of $92.46 million. Equities research analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current year.
Insider Activity at Honest
In other news, SVP Jonathan Mayle sold 37,481 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total value of $182,532.47. Following the sale, the senior vice president now directly owns 307,740 shares in the company, valued at approximately $1,498,693.80. This trade represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Winchell sold 20,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total transaction of $99,600.00. Following the transaction, the insider now owns 431,844 shares of the company's stock, valued at approximately $2,150,583.12. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Separately, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 target price on shares of Honest in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $7.70.
Check Out Our Latest Research Report on Honest
About Honest
(
Free Report)
The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.
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