The Honest Company, Inc. (NASDAQ:HNST) Receives $6.21 Consensus Target Price from Analysts

The Honest Company, Inc. (NASDAQ:HNST) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Two 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 issued a report on the stock in the last year is $6.21.

Several brokerages have commented on HNST. B. Riley upped 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. Telsey Advisory Group upped their price objective on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Northland Securities raised their target price on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Alliance Global Partners boosted their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Honest Price Performance

Shares of NASDAQ:HNST opened at $7.06 on Monday. The company has a 50 day moving average of $5.61 and a 200-day moving average of $4.20. Honest has a one year low of $2.40 and a one year high of $8.97. The stock has a market cap of $712.78 million, a price-to-earnings ratio of -176.50 and a beta of 2.42.

Insider Activity at Honest

In other Honest news, Director Jessica Warren sold 465,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Winchell sold 7,123 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $50,573.30. Following the sale, the executive vice president now owns 382,613 shares of the company’s stock, valued at $2,716,552.30. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,099,818 shares of company stock valued at $14,025,421. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Honest

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. bought a new position in Honest during the 3rd quarter worth $164,000. Virtu Financial LLC bought a new position in shares of Honest in the third quarter worth $219,000. Barclays PLC raised its stake in Honest by 298.9% in the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock valued at $394,000 after purchasing an additional 82,713 shares in the last quarter. Geode Capital Management LLC raised its stake in Honest by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock valued at $6,468,000 after purchasing an additional 65,995 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in Honest by 14.2% during the third quarter. XTX Topco Ltd now owns 157,363 shares of the company’s stock worth $562,000 after purchasing an additional 19,566 shares during the period. 45.54% of the stock is currently owned by institutional investors.

About Honest

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.