Honest (NASDAQ:HNST) Price Target Raised to $6.00

Honest (NASDAQ:HNST - Free Report) had its target price raised by Telsey Advisory Group from $4.00 to $6.00 in a report published on Wednesday, Marketbeat Ratings reports. Telsey Advisory Group currently has a market perform rating on the stock.

Several other research firms have also issued reports on HNST. Northland Securities raised their target price on shares of Honest from $6.50 to $7.50 and gave the stock an "outperform" rating in a report on Wednesday. Alliance Global Partners raised their price target on Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday. Northland Capmk raised Honest to a "strong-buy" rating in a research report on Tuesday, August 6th. Finally, B. Riley began coverage on shares of Honest in a report on Tuesday, September 10th. They issued a "buy" rating and a $6.50 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Honest presently has an average rating of "Moderate Buy" and an average target price of $5.93.

Honest Stock Up 25.4 %

NASDAQ HNST traded up $1.22 during trading hours on Wednesday, hitting $6.02. 14,995,151 shares of the company were exchanged, compared to its average volume of 1,347,804. The stock has a market cap of $602.48 million, a PE ratio of -151.00 and a beta of 1.85. Honest has a 52 week low of $1.39 and a 52 week high of $6.53. The stock has a 50-day moving average price of $3.82 and a 200 day moving average price of $3.45.

Insider Activity

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 9,869,803 shares of the company's stock, valued at approximately $34,544,310.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the sale, the executive vice president now directly owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $8,050,000.00. Following the transaction, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. The trade was a 0.00 % decrease in their position. 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. Corporate insiders own 8.60% of the company's stock.

Institutional Trading of Honest

Several institutional investors and hedge funds have recently bought and sold shares of HNST. Hillsdale Investment Management Inc. purchased a new position in shares of Honest during the 1st quarter valued at approximately $3,777,000. Renaissance Technologies LLC raised its position 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 worth $4,579,000 after acquiring an additional 846,300 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Honest by 706.1% during the 2nd quarter. Acadian Asset Management LLC now owns 716,332 shares of the company's stock worth $2,088,000 after acquiring an additional 627,464 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Honest by 973.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company's stock valued at $1,742,000 after acquiring an additional 390,022 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Honest by 68.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company's stock valued at $2,755,000 after purchasing an additional 382,418 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.