Counterpoint Mutual Funds LLC Makes New $313,000 Investment in The Honest Company, Inc. (NASDAQ:HNST)

Counterpoint Mutual Funds LLC purchased a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) in the fourth quarter, Holdings Channel reports. The fund purchased 45,232 shares of the company’s stock, valued at approximately $313,000.

A number of other institutional investors also recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC raised its position in Honest by 6.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock worth $11,295,000 after buying an additional 191,547 shares during the last quarter. Geode Capital Management LLC raised its position in Honest by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after buying an additional 65,995 shares during the last quarter. Victory Capital Management Inc. raised its position in Honest by 869.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock worth $10,716,000 after buying an additional 1,386,961 shares during the last quarter. State Street Corp raised its position in Honest by 23.0% during the 3rd quarter. State Street Corp now owns 1,181,469 shares of the company’s stock worth $4,218,000 after buying an additional 220,699 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Honest by 1,504.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock worth $3,040,000 after buying an additional 798,384 shares during the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Honest

In other Honest news, insider Stephen Winchell sold 20,000 shares of Honest 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 owns 431,844 shares of the company’s stock, 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 through this hyperlink. Also, SVP Jonathan Mayle sold 37,481 shares of Honest stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total transaction of $182,532.47. Following the sale, the senior vice president now directly owns 307,740 shares in the company, valued at approximately $1,498,693.80. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.

Honest Stock Performance

Honest stock opened at $5.15 on Tuesday. The company’s fifty day moving average price is $5.87 and its 200 day moving average price is $5.52. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97. The stock has a market capitalization of $560.89 million, a P/E ratio of -128.75 and a beta of 2.45.

Honest (NASDAQ:HNST) last released its quarterly 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. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The firm had revenue of $99.84 million for the quarter, compared to analysts’ expectations of $96.46 million. Sell-side analysts predict that The Honest Company, Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 target price on shares of Honest in a report on Thursday, February 27th. Northland Securities lifted their target price on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.42.

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.