Versor Investments LP Buys New Holdings in The Honest Company, Inc. (NASDAQ:HNST)

Versor Investments LP purchased a new position in The Honest Company, Inc. (NASDAQ:HNST) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 38,100 shares of the company’s stock, valued at approximately $264,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC raised its position in shares of Honest by 6.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock worth $11,295,000 after purchasing an additional 191,547 shares during the period. Geode Capital Management LLC raised its holdings in Honest by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after buying an additional 65,995 shares during the last quarter. State Street Corp raised its holdings in shares of Honest by 23.0% in the 3rd quarter. State Street Corp now owns 1,181,469 shares of the company’s stock worth $4,218,000 after acquiring an additional 220,699 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Honest by 1,504.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock valued at $3,040,000 after acquiring an additional 798,384 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Honest by 377.8% during the 3rd 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 last quarter. Institutional investors own 45.54% of the company’s stock.

Wall Street Analyst Weigh In

HNST has been the topic of a number of analyst reports. Alliance Global Partners lifted their price objective on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price target on shares of Honest in a report on Thursday, February 27th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Tuesday, December 17th. B. Riley boosted their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities upped their target price on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Honest presently has an average rating of “Moderate Buy” and a consensus price target of $6.93.

Honest Trading Down 5.4 %

NASDAQ:HNST opened at $5.11 on Tuesday. The Honest Company, Inc. has a 12 month low of $2.40 and a 12 month high of $8.97. The firm’s 50 day moving average is $6.24 and its 200 day moving average is $5.48. The stock has a market capitalization of $556.53 million, a PE ratio of -127.75 and a beta of 2.43.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $96.46 million. Research analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Insider Buying and Selling

In other Honest news, Director Jessica Warren sold 465,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of the transaction, the director now owns 1,170,058 shares in the company, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is currently owned by insiders.

Honest 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.