Franklin Resources Inc. purchased a new stake in shares of The Honest Company, Inc. (NASDAQ:HNST – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 44,058 shares of the company’s stock, valued at approximately $164,000.
Other hedge funds also recently bought and sold shares of the company. Zacks Investment Management acquired a new stake in Honest in the 3rd quarter worth approximately $37,000. Creative Planning acquired a new position in shares of Honest in the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Honest during the third quarter valued at approximately $40,000. Panagora Asset Management Inc. acquired a new stake in shares of Honest during the 2nd quarter worth about $43,000. Finally, Castleview Partners LLC acquired a new position in Honest during the 3rd quarter worth about $71,000. 45.54% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, General Counsel Brendan Sheehey sold 92,138 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the completion of the transaction, the general counsel now directly owns 516,816 shares in the company, valued at approximately $4,201,714.08. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 799,818 shares of company stock valued at $5,975,421 over the last ninety days. 8.60% of the stock is currently owned by insiders.
Honest Trading Down 2.0 %
Analysts Set New Price Targets
A number of brokerages have recently commented on HNST. Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research note on Tuesday, December 17th. B. Riley raised 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. Alliance Global Partners raised their target price 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. 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 research note on Wednesday, November 13th. Finally, Northland Securities upped their price target 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.79.
Check Out Our Latest Analysis on Honest
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.
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