Analysts Set The Honest Company, Inc. (NASDAQ:HNST) Target Price at $5.93

The Honest Company, Inc. (NASDAQ:HNST) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat reports. 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 company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.93.

Several research analysts recently issued reports on HNST shares. Telsey Advisory Group raised their price objective on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research report on Wednesday. B. Riley lifted their price target on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday. Northland Securities increased their price objective on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday. Alliance Global Partners upped their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Northland Capmk raised shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th.

Insider Activity at Honest

In related news, General Counsel Brendan Sheehey sold 8,176 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 $34,993.28. Following the transaction, the general counsel now directly owns 517,861 shares of the company’s stock, valued at approximately $2,216,445.08. The trade was a 1.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,461,187 shares of company stock valued at $8,739,880 over the last quarter. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of institutional investors have recently made changes to their positions in HNST. SG Americas Securities LLC bought a new position in shares of Honest during the first quarter valued at approximately $93,000. Vanguard Group Inc. increased its stake in shares of Honest by 10.4% during the first 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 during the period. Acadian Asset Management LLC bought a new stake in Honest during the first quarter worth approximately $359,000. Hillsdale Investment Management Inc. bought a new stake in shares of Honest in the 1st quarter worth $3,777,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Honest in the first quarter valued at $27,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Honest Stock Performance

Shares of HNST opened at $6.91 on Thursday. The stock has a market capitalization of $697.64 million, a P/E ratio of -172.75 and a beta of 1.85. Honest has a 1 year low of $1.40 and a 1 year high of $7.14. The company’s fifty day moving average is $3.96 and its two-hundred day moving average is $3.52.

Honest Company 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.