Pathway Capital Management LP Acquires New Position in The Honest Company, Inc. (NASDAQ:HNST)

Pathway Capital Management LP acquired a new stake in The Honest Company, Inc. (NASDAQ:HNST) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 185,666 shares of the company’s stock, valued at approximately $1,287,000. Honest accounts for 1.3% of Pathway Capital Management LP’s holdings, making the stock its 6th largest holding. Pathway Capital Management LP owned approximately 0.18% of Honest as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Versor Investments LP bought a new stake in shares of Honest during the fourth quarter worth $264,000. Los Angeles Capital Management LLC bought a new stake in shares of Honest during the fourth quarter worth $819,000. Bank of New York Mellon Corp increased its position in shares of Honest by 45.2% during the fourth quarter. Bank of New York Mellon Corp now owns 377,724 shares of the company’s stock worth $2,618,000 after acquiring an additional 117,612 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Honest during the fourth quarter worth $409,000. Finally, Olympiad Research LP bought a new stake in shares of Honest during the fourth quarter worth $168,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Honest news, Director Jessica Warren sold 465,000 shares of Honest stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the completion of the sale, the director now owns 1,170,058 shares in the company, valued at $8,833,937.90. The trade was a 28.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Honest Price Performance

Shares of HNST opened at $5.40 on Friday. The firm has a 50-day moving average of $6.27 and a 200-day moving average of $5.45. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97. The company has a market cap of $545.19 million, a PE ratio of -135.00 and a beta of 2.43.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $99.84 million during 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%. Analysts expect that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Alliance Global Partners raised their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. B. Riley raised their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Tuesday, December 17th. Northland Securities raised their target price on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 target price on shares of Honest in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Honest presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

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.