Trexquant Investment LP Takes $2.49 Million Position in The Honest Company, Inc. (NASDAQ:HNST)

Trexquant Investment LP acquired a new position in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 358,605 shares of the company's stock, valued at approximately $2,485,000. Trexquant Investment LP owned 0.36% of Honest at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Honest in the fourth quarter worth $26,000. Zacks Investment Management acquired a new stake in Honest during the third quarter worth about $37,000. New York State Teachers Retirement System bought a new position in Honest in the 4th quarter valued at about $52,000. Fox Run Management L.L.C. bought a new position in Honest in the 4th quarter valued at about $89,000. Finally, Entropy Technologies LP acquired a new position in shares of Honest in the 4th quarter valued at approximately $115,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Honest

In related news, SVP Jonathan Mayle sold 37,481 shares of Honest 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Winchell sold 20,000 shares of the company's 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 sale, the insider now directly owns 431,844 shares in the company, valued at $2,150,583.12. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

Honest Trading Down 0.7 %

NASDAQ:HNST traded down $0.03 during mid-day trading on Friday, hitting $4.40. 1,811,233 shares of the company's stock were exchanged, compared to its average volume of 2,124,999. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The company has a 50 day simple moving average of $5.21 and a 200-day simple moving average of $5.61. The firm has a market capitalization of $479.20 million, a P/E ratio of -110.00 and a beta of 2.44.

Honest (NASDAQ:HNST - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $99.84 million for the quarter, compared to analysts' expectations of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. As a group, analysts expect that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Telsey Advisory Group restated a "market perform" rating and issued a $7.00 price target on shares of Honest in a research note on Thursday, February 27th. Loop Capital downgraded shares of Honest from a "buy" rating to a "hold" rating and set a $7.00 price target for the company. in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.70.

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.