Graham Capital Management L.P. Buys 29,880 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Graham Capital Management L.P. raised its stake in shares of The Honest Company, Inc. (NASDAQ:HNST) by 66.3% in the fourth quarter, Holdings Channel reports. The fund owned 74,919 shares of the company’s stock after acquiring an additional 29,880 shares during the period. Graham Capital Management L.P.’s holdings in Honest were worth $519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HNST. SBI Securities Co. Ltd. bought a new position in Honest in the 4th quarter valued at $26,000. New York State Teachers Retirement System acquired a new stake in shares of Honest in the fourth quarter valued at $52,000. Utah Retirement Systems bought a new position in shares of Honest in the fourth quarter valued at about $86,000. Fox Run Management L.L.C. bought a new position in shares of Honest in the fourth quarter valued at about $89,000. Finally, Walleye Trading LLC acquired a new position in Honest during the 4th quarter worth about $109,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Insider Transactions at Honest

In other Honest news, SVP Jonathan Mayle sold 37,481 shares of the firm’s 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 transaction, the senior vice president now directly owns 307,740 shares of the company’s stock, valued at approximately $1,498,693.80. This trade represents a 10.86% decrease in their ownership of the stock. The sale 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 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 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 disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.

Honest Stock Performance

NASDAQ HNST opened at $5.20 on Friday. The stock has a market capitalization of $573.23 million, a P/E ratio of -130.00 and a beta of 2.43. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97. The stock has a fifty day moving average of $4.74 and a 200-day moving average of $5.77.

Honest (NASDAQ:HNST) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $97.25 million during the quarter, compared to analyst estimates of $92.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. Equities research analysts forecast that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Telsey Advisory Group restated a “market perform” rating and issued a $7.00 price objective on shares of Honest in a research report on Thursday, May 8th. Two investment 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 company. According to data from MarketBeat.com, Honest 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.