Telsey Advisory Group Increases Honest (NASDAQ:HNST) Price Target to $7.00

Honest (NASDAQ:HNST - Get Free Report) had its target price hoisted by stock analysts at Telsey Advisory Group from $6.00 to $7.00 in a report released on Friday, MarketBeat reports. The firm presently has a "market perform" rating on the stock. Telsey Advisory Group's target price would suggest a potential upside of 18.64% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Loop Capital cut shares of Honest from a "buy" rating to a "hold" rating and set a $7.00 price objective on the stock. in a research note on Tuesday, December 17th. B. Riley raised their target price on Honest from $6.50 to $7.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Alliance Global Partners boosted their price target on Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Northland Securities raised their price objective on Honest from $7.50 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $6.93.

Honest Stock Down 6.8 %

Shares of HNST traded down $0.43 during mid-day trading on Friday, hitting $5.90. 2,971,784 shares of the company's stock were exchanged, compared to its average volume of 2,244,265. The firm has a market cap of $595.67 million, a price-to-earnings ratio of -147.50 and a beta of 2.45. The stock's 50-day simple moving average is $6.83 and its 200-day simple moving average is $4.78. Honest has a 52 week low of $2.40 and a 52 week high of $8.97.

Insider Buying and Selling at Honest

In other news, General Counsel Brendan Sheehey sold 92,138 shares of the firm's stock in a transaction on 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 transaction, the general counsel now owns 516,816 shares of the company's stock, valued at approximately $4,201,714.08. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Loretta sold 27,004 shares of Honest stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $191,728.40. Following the transaction, the chief financial officer now owns 960,753 shares in the company, valued at approximately $6,821,346.30. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently made changes to their positions in HNST. ArrowMark Colorado Holdings LLC raised its stake in Honest by 6.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company's stock worth $11,295,000 after buying an additional 191,547 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Honest by 3.8% in the 3rd 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 raised its position in shares of Honest by 117.3% in the 2nd 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. State Street Corp lifted its stake in shares of Honest by 23.0% in the 3rd quarter. State Street Corp now owns 1,181,469 shares of the company's stock valued at $4,218,000 after purchasing an additional 220,699 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Honest by 68.1% during 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. Institutional investors and hedge funds 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.