Northland Securities Raises Honest (NASDAQ:HNST) Price Target to $9.50

Honest (NASDAQ:HNST) had its target price hoisted by Northland Securities from $7.50 to $9.50 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ price objective points to a potential upside of 13.10% from the company’s previous close.

A number of other research firms have also recently issued reports on HNST. B. Riley raised their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group increased 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, November 13th. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Alliance Global Partners raised 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, November 13th. Two equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.21.

Honest Trading Up 1.4 %

NASDAQ HNST opened at $8.40 on Wednesday. The company has a fifty day simple moving average of $5.04 and a two-hundred day simple moving average of $3.98. The stock has a market cap of $848.06 million, a P/E ratio of -210.00 and a beta of 2.42. Honest has a 12-month low of $2.22 and a 12-month high of $8.97.

Insiders Place Their Bets

In other Honest news, General Counsel Brendan Sheehey sold 92,138 shares of Honest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.13, for a total transaction of $749,081.94. Following the completion of the sale, the general counsel now directly owns 516,816 shares in the company, valued at $4,201,714.08. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction dated 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 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 2,634,818 shares of company stock valued at $10,514,671 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

A number of institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd increased its position in shares of Honest by 7.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after acquiring an additional 5,330 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Honest by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after purchasing an additional 7,379 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Honest by 6.4% in the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock valued at $402,000 after purchasing an additional 8,282 shares in the last quarter. Zacks Investment Management acquired a new position in shares of Honest in the third quarter valued at approximately $37,000. Finally, Creative Planning acquired a new position in shares of Honest in the third quarter valued at approximately $39,000. 45.54% of the stock is currently 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.