EntryPoint Capital LLC Purchases 45,508 Shares of The Honest Company, Inc. (NASDAQ:HNST)

EntryPoint Capital LLC grew its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST) by 179.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 70,806 shares of the company’s stock after buying an additional 45,508 shares during the period. EntryPoint Capital LLC’s holdings in Honest were worth $491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HNST. Vanguard Group Inc. grew its position in Honest by 25.7% in the 4th quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock valued at $35,671,000 after acquiring an additional 1,052,305 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Honest by 6.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock worth $11,295,000 after purchasing an additional 191,547 shares during the last quarter. Geode Capital Management LLC increased its stake in Honest by 3.8% in 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 period. Victory Capital Management Inc. lifted its holdings in Honest by 869.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock valued at $10,716,000 after buying an additional 1,386,961 shares in the last quarter. Finally, State Street Corp boosted its position in Honest by 23.0% in the 3rd quarter. State Street Corp now owns 1,181,469 shares of the company’s stock valued at $4,218,000 after buying an additional 220,699 shares during the period. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Stock Down 1.6 %

Shares of HNST stock opened at $5.07 on Wednesday. The company’s 50 day moving average is $5.73 and its 200 day moving average is $5.55. The firm has a market cap of $552.17 million, a price-to-earnings ratio of -126.75 and a beta of 2.45. The Honest Company, Inc. has a 52-week low of $2.40 and a 52-week high of $8.97.

Honest (NASDAQ:HNST) last announced 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. The business had revenue of $99.84 million for the quarter, compared to the consensus estimate of $96.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. Analysts anticipate that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jonathan Mayle sold 37,481 shares of the business’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 transaction of $182,532.47. Following the completion of the transaction, the senior vice president now owns 307,740 shares in the company, valued at $1,498,693.80. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Winchell sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 431,844 shares of the company’s stock, valued at approximately $2,150,583.12. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HNST shares. Northland Securities raised their target price on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price objective on shares of Honest in a report on Thursday, February 27th. Finally, Loop Capital cut 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 equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.