The Honest Company, Inc. (NASDAQ:HNST) Receives $5.93 Consensus PT from Analysts

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $5.93.

HNST has been the subject of a number of analyst reports. Telsey Advisory Group upped their price objective on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Alliance Global Partners raised their price target on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Northland Securities boosted their price objective on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. B. Riley increased their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Northland Capmk raised shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th.

Insider Activity at Honest

In other news, General Counsel Brendan Sheehey sold 8,392 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $59,583.20. Following the sale, the general counsel now owns 516,816 shares in the company, valued at $3,669,393.60. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This 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 2,517,680 shares of company stock worth $9,585,839 over the last quarter. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its holdings in Honest by 7.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after purchasing an additional 5,330 shares during the period. EntryPoint Capital LLC acquired a new position in Honest during the first quarter worth $27,000. Charles Schwab Investment Management Inc. increased its stake in shares of Honest by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock worth $805,000 after purchasing an additional 7,379 shares in the last quarter. XTX Topco Ltd boosted its holdings in Honest by 6.4% in the 2nd quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after buying an additional 8,282 shares during the last quarter. Finally, Zacks Investment Management purchased a new stake in Honest during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Price Performance

NASDAQ:HNST opened at $7.25 on Thursday. The company has a 50-day moving average of $4.16 and a 200 day moving average of $3.61. Honest has a 1-year low of $1.57 and a 1-year high of $7.57. The firm has a market cap of $731.97 million, a PE ratio of -181.25 and a beta of 1.85.

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.