Marathon Trading Investment Management LLC Sells 92,120 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Marathon Trading Investment Management LLC lessened its holdings in shares of The Honest Company, Inc. (NASDAQ:HNST) by 75.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,480 shares of the company’s stock after selling 92,120 shares during the period. Marathon Trading Investment Management LLC’s holdings in Honest were worth $86,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hillsdale Investment Management Inc. bought a new stake in Honest in the 1st quarter valued at approximately $3,777,000. Vanguard Group Inc. lifted its stake in Honest by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after acquiring an additional 268,600 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Honest by 973.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company’s stock valued at $1,742,000 after acquiring an additional 390,022 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Honest in the 1st quarter valued at approximately $27,000. Finally, Lazard Asset Management LLC bought a new stake in Honest in the 1st quarter valued at approximately $52,000. Institutional investors own 45.54% of the company’s stock.

Honest Trading Down 0.8 %

HNST stock opened at $3.81 on Thursday. The firm has a market capitalization of $375.81 million, a PE ratio of -16.57 and a beta of 1.90. The Honest Company, Inc. has a 1-year low of $1.06 and a 1-year high of $4.89. The business’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $3.44.

Honest (NASDAQ:HNST) last posted its earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $93.05 million for the quarter, compared to analyst estimates of $87.63 million. Honest had a negative return on equity of 10.00% and a negative net margin of 3.50%. During the same period in the previous year, the firm earned ($0.14) EPS. As a group, sell-side analysts predict that The Honest Company, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $29,694.64. Following the transaction, the executive vice president now directly owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Honest news, CFO David Loretta sold 75,656 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $323,807.68. Following the transaction, the chief financial officer now directly owns 987,757 shares of the company’s stock, valued at approximately $4,227,599.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen Winchell sold 6,938 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the transaction, the executive vice president now directly owns 414,736 shares in the company, valued at $1,775,070.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 231,187 shares of company stock valued at $968,480. 8.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HNST shares. Northland Securities started coverage on Honest in a research note on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 target price on the stock. B. Riley assumed coverage on Honest in a research note on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective on the stock. Loop Capital upgraded Honest from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Tuesday, June 25th. Finally, Northland Capmk upgraded Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.04.

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.