Occudo Quantitative Strategies LP Invests $309,000 in The Honest Company, Inc. (NASDAQ:HNST)

Occudo Quantitative Strategies LP acquired a new position in shares of The Honest Company, Inc. (NASDAQ:HNST) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 44,529 shares of the company’s stock, valued at approximately $309,000.

A number of other hedge funds also recently made changes to their positions in HNST. Barclays PLC raised its position in shares of Honest by 298.9% during the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock worth $394,000 after acquiring an additional 82,713 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Honest by 377.8% during the third quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company’s stock worth $2,762,000 after purchasing an additional 611,844 shares during the period. SG Americas Securities LLC grew its stake in Honest by 47.7% during the fourth quarter. SG Americas Securities LLC now owns 42,229 shares of the company’s stock worth $293,000 after purchasing an additional 13,644 shares during the period. Entropy Technologies LP acquired a new stake in Honest during the fourth quarter worth approximately $115,000. Finally, New York State Teachers Retirement System acquired a new stake in Honest during the fourth quarter worth approximately $52,000. 45.54% of the stock is currently owned by institutional investors.

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 research note on Thursday, May 8th. 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.70.

Honest Stock Performance

Shares of Honest stock opened at $5.51 on Friday. The Honest Company, Inc. has a 52 week low of $2.40 and a 52 week high of $8.97. The stock has a 50 day moving average price of $4.76 and a two-hundred day moving average price of $5.78. The stock has a market capitalization of $607.41 million, a PE ratio of -137.75 and a beta of 2.43.

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

Insider Buying and Selling at Honest

In other Honest news, insider Stephen Winchell sold 20,000 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the senior vice president now directly owns 307,740 shares of the company’s stock, valued at $1,498,693.80. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

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.