Honest (NASDAQ:HNST) Shares Down 5.3% Following Insider Selling

The Honest Company, Inc. (NASDAQ:HNST)’s stock price dropped 5.3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $7.13 and last traded at $7.15. Approximately 1,169,200 shares changed hands during trading, a decline of 26% from the average daily volume of 1,590,511 shares. The stock had previously closed at $7.55.

Specifically, Director Jessica Warren sold 465,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value 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 approximately $8,833,937.90. This represents a 28.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

HNST has been the topic of a number of recent analyst reports. Alliance Global Partners lifted their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group boosted their price target on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. B. Riley lifted their price objective on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Northland Securities boosted their target price on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.21.

Honest Stock Up 2.6 %

The firm has a 50 day simple moving average of $5.54 and a 200 day simple moving average of $4.17.

Institutional Trading of Honest

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zacks Investment Management purchased a new position in Honest in the 3rd quarter worth approximately $37,000. Creative Planning bought a new position in Honest in the third quarter valued at $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Honest in the 3rd quarter worth about $40,000. Panagora Asset Management Inc. bought a new position in shares of Honest during the 2nd quarter valued at about $43,000. Finally, Castleview Partners LLC purchased a new stake in Honest in the third quarter worth approximately $71,000. 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.