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

Shares of The Honest Company, Inc. (NASDAQ:HNST) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5.93.

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

Honest Trading Up 25.2 %

Shares of HNST opened at $6.01 on Thursday. The firm has a market cap of $601.48 million, a P/E ratio of -150.25 and a beta of 1.85. Honest has a 12-month low of $1.39 and a 12-month high of $6.53. The company’s 50-day moving average price is $3.86 and its 200 day moving average price is $3.47.

Insider Buying and Selling

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO David Loretta sold 75,656 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $323,807.68. Following the completion of the transaction, the chief financial officer now directly owns 987,757 shares of the company’s stock, valued at $4,227,599.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,461,187 shares of company stock worth $8,739,880. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Honest by 10.4% in the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after acquiring an additional 268,600 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after acquiring an additional 846,300 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Honest by 68.1% in the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after acquiring an additional 382,418 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Honest in the first quarter valued at approximately $3,777,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after acquiring an additional 627,464 shares during the period. 45.54% of the stock is owned by institutional investors and hedge funds.

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.