Deerfield Management Company L.P. Series C Decreases Position in The Honest Company, Inc. (NASDAQ:HNST)

Deerfield Management Company L.P. Series C decreased its stake in The Honest Company, Inc. (NASDAQ:HNST) by 89.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,171 shares of the company’s stock after selling 177,585 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Honest were worth $140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ieq Capital LLC lifted its stake in shares of Honest by 61.3% during the 4th 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 last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Honest during the fourth quarter valued at about $819,000. Vanguard Group Inc. grew its holdings in Honest by 25.7% in the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock worth $35,671,000 after purchasing an additional 1,052,305 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Honest during the 4th quarter worth $756,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Honest in the 4th quarter worth approximately $409,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Insider Transactions at Honest

In other news, SVP Jonathan Mayle sold 37,481 shares of the company’s 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 owns 307,740 shares of the company’s stock, valued at approximately $1,498,693.80. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now directly owns 431,844 shares of the company’s stock, valued at $2,150,583.12. The trade was a 4.43 % 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.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 target price on shares of Honest in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.70.

Honest Price Performance

HNST opened at $4.80 on Thursday. The stock has a market cap of $529.10 million, a P/E ratio of -120.00 and a beta of 2.43. The firm has a fifty day moving average price of $4.75 and a 200 day moving average price of $5.72. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $97.25 million during the quarter, compared to analysts’ expectations of $92.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. Equities analysts expect that The Honest Company, Inc. will post -0.07 EPS for the current year.

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.