The Honest Company, Inc. (NASDAQ:HNST) Receives Average Recommendation of “Moderate Buy” from Analysts

The Honest Company, Inc. (NASDAQ:HNST) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.21.

Several equities analysts have commented on HNST shares. B. Riley increased 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 increased their price target on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Telsey Advisory Group increased their price target 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, Alliance Global Partners increased their price target on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Honest Stock Up 1.6 %

Shares of HNST stock opened at $7.06 on Monday. Honest has a twelve month low of $2.40 and a twelve month high of $8.97. The company has a market cap of $712.78 million, a P/E ratio of -176.50 and a beta of 2.42. The business has a fifty day simple moving average of $5.61 and a 200 day simple moving average of $4.22.

Insider Buying and Selling

In related news, Director Jessica Warren sold 465,000 shares of the firm’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 owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the sale, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,099,818 shares of company stock valued at $14,025,421 over the last 90 days. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC boosted its holdings in Honest by 6.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock worth $11,295,000 after acquiring an additional 191,547 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Honest by 10.4% in the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after acquiring an additional 268,600 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Honest by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after acquiring an additional 65,995 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after acquiring an additional 846,300 shares in the last quarter. Finally, State Street Corp boosted its holdings in Honest by 23.0% in the third quarter. State Street Corp now owns 1,181,469 shares of the company’s stock worth $4,218,000 after acquiring an additional 220,699 shares in the last quarter. Institutional investors own 45.54% of the company’s stock.

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.