Honest (NASDAQ:HNST) Trading 3.1% Higher – What’s Next?

Shares of The Honest Company, Inc. (NASDAQ:HNST) traded up 3.1% during trading on Friday . The company traded as high as $6.70 and last traded at $6.70. 1,167,097 shares were traded during mid-day trading, a decline of 16% from the average session volume of 1,383,000 shares. The stock had previously closed at $6.50.

Analysts Set New Price Targets

Several analysts recently weighed in on HNST shares. B. Riley lifted their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday. Northland Capmk upgraded Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Northland Securities raised their target price on Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday. Telsey Advisory Group upped their price target on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Alliance Global Partners boosted their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Up 4.0 %

The company has a market cap of $682.49 million, a PE ratio of -176.50 and a beta of 1.85. The stock’s 50 day moving average is $3.91 and its 200-day moving average is $3.49.

Insider Activity

In other Honest news, CFO David Loretta sold 75,656 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction 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 approximately $4,227,599.96. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $8,050,000.00. Following the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,461,187 shares of company stock valued at $8,739,880. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Honest

Large investors have recently made changes to their positions in the stock. EntryPoint Capital LLC purchased a new stake in Honest in the 1st quarter valued at about $27,000. Creative Planning acquired a new position in Honest during the third quarter worth $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Honest during the third quarter worth $40,000. Panagora Asset Management Inc. acquired a new stake in shares of Honest in the second quarter valued at $43,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Honest in the first quarter valued at $52,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

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.