Trexquant Investment LP Buys New Stake in The Honest Company, Inc. (NASDAQ:HNST)

Trexquant Investment LP purchased a new stake in The Honest Company, Inc. (NASDAQ:HNST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 358,605 shares of the company’s stock, valued at approximately $2,485,000. Trexquant Investment LP owned about 0.36% of Honest as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ieq Capital LLC grew its holdings in Honest by 61.3% during the fourth quarter. Ieq Capital LLC now owns 130,651 shares of the company’s stock worth $905,000 after acquiring an additional 49,673 shares during the period. Walleye Capital LLC acquired a new position in shares of Honest in the 3rd quarter valued at $260,000. Los Angeles Capital Management LLC purchased a new stake in Honest during the fourth quarter worth $819,000. Barclays PLC grew its position in Honest by 298.9% during the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock valued at $394,000 after buying an additional 82,713 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Honest in the fourth quarter valued at $756,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Honest Trading Up 3.1 %

HNST stock opened at $4.31 on Tuesday. The business’s 50-day moving average is $5.45 and its 200 day moving average is $5.60. The Honest Company, Inc. has a 12-month low of $2.40 and a 12-month high of $8.97. The stock has a market cap of $469.40 million, a price-to-earnings ratio of -107.75 and a beta of 2.44.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $99.84 million during the quarter, compared to analysts’ expectations of $96.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. As a group, equities analysts forecast that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HNST has been the topic of several recent analyst reports. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 17th. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price objective on shares of Honest in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Honest presently has an average rating of “Moderate Buy” and an average target price of $7.70.

Insider Activity

In other news, insider Stephen Winchell sold 20,000 shares of the business’s stock in a transaction that occurred 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 directly owns 431,844 shares in the company, valued at $2,150,583.12. The trade was a 4.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Mayle sold 37,481 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 307,740 shares of the company’s stock, valued at $1,498,693.80. This trade represents 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.

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.