Corebridge Financial Inc. Sells 2,464 Shares of The Honest Company, Inc. (NASDAQ:HNST)

Corebridge Financial Inc. lessened its stake in shares of The Honest Company, Inc. (NASDAQ:HNST) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,069 shares of the company’s stock after selling 2,464 shares during the period. Corebridge Financial Inc.’s holdings in Honest were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Honest in the fourth quarter worth about $26,000. New York State Teachers Retirement System purchased a new stake in shares of Honest during the 4th quarter worth approximately $52,000. Zacks Investment Management bought a new position in shares of Honest during the 3rd quarter valued at approximately $37,000. Fox Run Management L.L.C. purchased a new position in shares of Honest in the fourth quarter valued at $89,000. Finally, Entropy Technologies LP bought a new stake in Honest in the fourth quarter worth $115,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Analysts Set New Price Targets

HNST has been the subject of several research reports. Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 price objective on shares of Honest in a research report on Thursday, February 27th. Loop Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.70.

Honest Stock Down 4.1 %

Shares of HNST opened at $4.43 on Friday. The Honest Company, Inc. has a 52-week low of $2.40 and a 52-week high of $8.97. The company has a market cap of $482.47 million, a PE ratio of -110.75 and a beta of 2.44. The business has a fifty day moving average of $5.25 and a 200 day moving average of $5.60.

Honest (NASDAQ:HNST) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $99.84 million during the quarter, compared to analyst estimates of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. As a group, research analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Honest

In other news, insider Stephen Winchell sold 20,000 shares of Honest stock in a transaction on Wednesday, March 12th. The stock was 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 directly owns 431,844 shares in the company, valued at approximately $2,150,583.12. This trade represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Mayle sold 37,481 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was 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 approximately $1,498,693.80. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

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.