Analysts Set The Honest Company, Inc. (NASDAQ:HNST) Price Target at $6.79

The Honest Company, Inc. (NASDAQ:HNST) has been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.79.

HNST has been the topic of a number of research analyst reports. B. Riley boosted their target price on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Northland Securities boosted their price objective on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Telsey Advisory Group raised their target price on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Tuesday, December 17th. Finally, Alliance Global Partners raised their price objective on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Honest Stock Performance

Honest stock opened at $6.67 on Friday. The company has a market capitalization of $673.41 million, a price-to-earnings ratio of -166.75 and a beta of 2.42. The company’s 50 day simple moving average is $6.58 and its 200-day simple moving average is $4.67. Honest has a 1 year low of $2.40 and a 1 year high of $8.97.

Insider Buying and Selling

In other Honest news, Director Jessica Warren sold 465,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of the sale, the director now directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brendan Sheehey sold 92,138 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the sale, the general counsel now directly owns 516,816 shares of the company’s stock, valued at $4,201,714.08. The trade was a 15.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 799,818 shares of company stock worth $5,975,421 in the last quarter. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Honest

A number of large investors have recently bought and sold shares of HNST. Renaissance Technologies LLC boosted its holdings in shares of Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after acquiring an additional 846,300 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Honest by 1,504.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock valued at $3,040,000 after purchasing an additional 798,384 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Honest by 706.1% in the 2nd quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after purchasing an additional 627,464 shares in the last quarter. JPMorgan Chase & Co. increased its position in Honest by 377.8% during the 3rd 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. Finally, Dimensional Fund Advisors LP raised its stake in shares of Honest by 68.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after buying an additional 382,418 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.