The Honest Company, Inc. (NASDAQ:HNST) Shares Sold by Portolan Capital Management LLC

Portolan Capital Management LLC lessened its stake in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 30.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,359,001 shares of the company's stock after selling 2,309,349 shares during the quarter. Honest comprises approximately 2.5% of Portolan Capital Management LLC's investment portfolio, making the stock its 5th biggest holding. Portolan Capital Management LLC owned approximately 5.31% of Honest worth $37,138,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Honest in the 4th quarter valued at about $26,000. New York State Teachers Retirement System acquired a new position in Honest in the fourth quarter valued at approximately $52,000. Fox Run Management L.L.C. bought a new position in Honest in the fourth quarter valued at approximately $89,000. Walleye Trading LLC acquired a new stake in Honest during the 4th quarter worth $109,000. Finally, Entropy Technologies LP bought a new stake in shares of Honest during the 4th quarter valued at $115,000. 45.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reaffirmed a "market perform" rating and set a $7.00 price objective on shares of Honest in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Honest currently has an average rating of "Moderate Buy" and an average price target of $7.70.

Honest Price Performance

HNST traded down $0.03 during mid-day trading on Friday, hitting $4.39. The stock had a trading volume of 1,672,206 shares, compared to its average volume of 2,146,010. The Honest Company, Inc. has a 1-year low of $2.40 and a 1-year high of $8.97. The firm has a market capitalization of $478.11 million, a price-to-earnings ratio of -109.75 and a beta of 2.44. The stock's fifty day simple moving average is $5.05 and its 200-day simple moving average is $5.62.

Honest (NASDAQ:HNST - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, research analysts expect that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Stephen Winchell sold 20,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total transaction of $99,600.00. Following the completion of the sale, the insider now owns 431,844 shares of the company's stock, valued at $2,150,583.12. This represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Mayle sold 37,481 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the completion of 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 disclosure for this sale can be found here. 8.60% of the stock is owned by company 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.