The Honest Company, Inc. (NASDAQ:HNST) Position Lessened by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its stake in The Honest Company, Inc. (NASDAQ:HNST) by 5.3% during the 4th quarter, HoldingsChannel reports. The firm owned 66,969 shares of the company’s stock after selling 3,753 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Honest were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in Honest during the 1st quarter worth $61,000. Federated Hermes Inc. boosted its position in Honest by 82.6% during the 1st quarter. Federated Hermes Inc. now owns 12,361 shares of the company’s stock worth $64,000 after acquiring an additional 5,590 shares during the period. Tower Research Capital LLC TRC boosted its position in Honest by 375.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 14,632 shares of the company’s stock worth $52,000 after acquiring an additional 11,552 shares during the period. XTX Topco Ltd acquired a new position in Honest during the 2nd quarter worth $26,000. Finally, Hsbc Holdings PLC acquired a new position in Honest during the 1st quarter worth $99,000. Institutional investors own 45.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on HNST shares. Alliance Global Partners started coverage on Honest in a research report on Tuesday, February 6th. They set a “buy” rating and a $5.75 price target for the company. Loop Capital boosted their price target on Honest from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. Morgan Stanley upped their price objective on Honest from $1.85 to $4.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price objective on shares of Honest in a report on Wednesday, April 10th. Finally, Lake Street Capital began coverage on Honest in a report on Thursday, April 4th. They issued a “buy” rating and a $6.00 price objective for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.95.

Insider Transactions at Honest

In other news, General Counsel Brendan Sheehey sold 21,152 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total transaction of $68,532.48. Following the sale, the general counsel now directly owns 534,620 shares of the company’s stock, valued at $1,732,168.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Stephen Winchell sold 19,665 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total transaction of $63,714.60. Following the transaction, the executive vice president now directly owns 428,957 shares of the company’s stock, valued at $1,389,820.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brendan Sheehey sold 21,152 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $3.24, for a total value of $68,532.48. Following the transaction, the general counsel now directly owns 534,620 shares in the company, valued at $1,732,168.80. The disclosure for this sale can be found here. Insiders have sold 273,301 shares of company stock valued at $1,077,922 over the last three months. Company insiders own 14.60% of the company’s stock.

Honest Stock Down 5.8 %

Shares of Honest stock opened at $3.25 on Monday. The business has a fifty day simple moving average of $3.67 and a 200-day simple moving average of $2.66. The firm has a market cap of $315.35 million, a price-to-earnings ratio of -7.74 and a beta of 1.83. The Honest Company, Inc. has a fifty-two week low of $1.06 and a fifty-two week high of $4.89.

Honest (NASDAQ:HNST) last announced its earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $90.26 million for the quarter, compared to analyst estimates of $83.54 million. Honest had a negative return on equity of 30.36% and a negative net margin of 11.39%. Analysts anticipate that The Honest Company, Inc. will post -0.18 earnings per share for the current fiscal year.

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.