Tudor Investment Corp ET AL Buys New Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Tudor Investment Corp ET AL purchased a new position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 602,546 shares of the company's stock, valued at approximately $4,176,000. Tudor Investment Corp ET AL owned 0.60% of Honest as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HNST. Victory Capital Management Inc. lifted its stake in shares of Honest by 869.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company's stock worth $10,716,000 after purchasing an additional 1,386,961 shares during the period. Vanguard Group Inc. raised its holdings in Honest by 25.7% in the 4th quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after purchasing an additional 1,052,305 shares during the period. Invesco Ltd. lifted its position in Honest by 2,035.9% during the fourth quarter. Invesco Ltd. now owns 779,998 shares of the company's stock valued at $5,405,000 after purchasing an additional 743,479 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Honest by 377.8% during the third quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company's stock valued at $2,762,000 after purchasing an additional 611,844 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Honest by 20.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company's stock valued at $16,439,000 after purchasing an additional 398,603 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Stock Performance

HNST traded down $0.05 on Monday, hitting $4.94. The company had a trading volume of 1,769,831 shares, compared to its average volume of 2,181,526. The stock has a market capitalization of $544.54 million, a price-to-earnings ratio of -123.50 and a beta of 2.43. The stock has a fifty day moving average price of $4.78 and a 200-day moving average price of $5.72. 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 posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The firm had revenue of $99.84 million during the quarter, compared to analysts' expectations of $96.46 million. Analysts forecast that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity

In other news, insider Stephen Winchell sold 20,000 shares of Honest 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 in the company, valued at $2,150,583.12. The trade was a 4.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Mayle sold 37,481 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the completion of the transaction, the senior vice president now owns 307,740 shares in the company, valued at $1,498,693.80. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reiterated a "market perform" rating and issued a $7.00 price target on shares of Honest in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $7.70.

Honest Company Profile

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.