The Honest Company, Inc. $HNST Position Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in The Honest Company, Inc. (NASDAQ:HNST) by 90.2% in the first quarter, Holdings Channel reports. The firm owned 61,755 shares of the company’s stock after selling 566,845 shares during the quarter. Renaissance Technologies LLC’s holdings in Honest were worth $182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HNST. Caitong International Asset Management Co. Ltd raised its stake in Honest by 1,392.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock valued at $26,000 after buying an additional 6,599 shares in the last quarter. Amicus Financial Advisors LLC acquired a new position in shares of Honest in the 4th quarter worth approximately $29,000. Hibernia Wealth Partners LLC bought a new stake in shares of Honest in the 4th quarter valued at approximately $32,000. Equity Wealth Partners LLC bought a new stake in shares of Honest in the 3rd quarter valued at approximately $37,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Honest during the 3rd quarter valued at approximately $39,000. 45.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Jonathan Mayle sold 79,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $5.22, for a total transaction of $412,380.00. Following the completion of the transaction, the senior vice president owned 370,155 shares of the company’s stock, valued at approximately $1,932,209.10. The trade was a 17.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Andrea Turner sold 29,899 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $5.21, for a total transaction of $155,773.79. Following the transaction, the director owned 252,405 shares of the company’s stock, valued at $1,315,030.05. This represents a 10.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 143,295 shares of company stock worth $750,453 over the last quarter. 9.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HNST has been the topic of several research analyst reports. Northland Securities set a $5.50 price objective on Honest in a research note on Thursday, August 6th. B. Riley Financial boosted their target price on shares of Honest from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Honest from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley raised their price target on shares of Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Freedom Capital raised shares of Honest from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.84.

Honest Trading Down 1.2%

Shares of Honest stock opened at $4.96 on Friday. The stock has a market capitalization of $546.00 million, a price-to-earnings ratio of -45.09 and a beta of 2.12. The Honest Company, Inc. has a twelve month low of $2.07 and a twelve month high of $5.84. The business’s 50 day simple moving average is $4.06 and its 200-day simple moving average is $3.35.

Honest (NASDAQ:HNST) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $80.19 million during the quarter, compared to analyst estimates of $77.83 million. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%. Sell-side analysts predict that The Honest Company, Inc. will post 0.05 earnings per share for the current year.

About Honest

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.