Easterly Investment Partners LLC Sells 83,000 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Easterly Investment Partners LLC cut its holdings in The Honest Company, Inc. (NASDAQ:HNST) by 55.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,000 shares of the company’s stock after selling 83,000 shares during the quarter. Easterly Investment Partners LLC’s holdings in Honest were worth $464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Honest during the 4th quarter worth $26,000. Zacks Investment Management acquired a new position in Honest during the third quarter valued at $37,000. New York State Teachers Retirement System purchased a new stake in shares of Honest in the fourth quarter worth about $52,000. Fox Run Management L.L.C. purchased a new stake in Honest in the 4th quarter worth approximately $89,000. Finally, Intech Investment Management LLC acquired a new stake in Honest during the third quarter valued at $103,000. 45.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Jonathan Mayle sold 37,481 shares of the 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 sale, the senior vice president now directly owns 307,740 shares in the company, valued at $1,498,693.80. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Winchell sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total value of $99,600.00. Following the completion of the transaction, the insider now directly owns 431,844 shares of the company’s stock, valued at approximately $2,150,583.12. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.

Honest Stock Performance

HNST stock opened at $4.98 on Friday. The company’s 50 day moving average price is $5.68 and its 200 day moving average price is $5.55. The firm has a market capitalization of $542.37 million, a price-to-earnings ratio of -124.50 and a beta of 2.45. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97.

Honest (NASDAQ:HNST) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The business had revenue of $99.84 million for the quarter, compared to analyst estimates of $96.46 million. Equities analysts forecast that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HNST has been the topic of several research analyst reports. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a report on Tuesday, December 17th. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price objective on shares of Honest in a report on Thursday, February 27th. Finally, Northland Securities lifted their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Honest presently has a consensus rating of “Moderate Buy” and an average price target of $7.42.

About Honest

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.