Honest (NASDAQ:HNST) Price Target Raised to $7.50 at Northland Securities

Honest (NASDAQ:HNST) had its price target increased by Northland Securities from $6.50 to $7.50 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

HNST has been the topic of several other reports. Northland Capmk raised Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Alliance Global Partners upped their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, B. Riley initiated coverage on Honest in a research note on Tuesday, September 10th. They set a “buy” rating and a $6.50 target price on the stock. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Honest has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Honest Price Performance

Shares of NASDAQ HNST opened at $6.91 on Wednesday. The business’s 50 day moving average is $3.96 and its two-hundred day moving average is $3.52. Honest has a 1-year low of $1.40 and a 1-year high of $7.14. The stock has a market capitalization of $697.64 million, a P/E ratio of -172.75 and a beta of 1.85.

Insider Activity at Honest

In related news, EVP Stephen Winchell sold 6,938 shares of the business’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 $29,694.64. Following the completion of the sale, the executive vice president now owns 414,736 shares in the company, valued at approximately $1,775,070.08. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brendan Sheehey sold 8,176 shares of the business’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 value of $34,993.28. Following the completion of the sale, the general counsel now owns 517,861 shares of the company’s stock, valued at $2,216,445.08. The trade was a 1.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,461,187 shares of company stock worth $8,739,880. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Honest

A number of large investors have recently modified their holdings of the company. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Honest by 6.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock valued at $11,295,000 after purchasing an additional 191,547 shares during the period. Vanguard Group Inc. lifted its holdings in Honest by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares during the period. Geode Capital Management LLC lifted its holdings in Honest by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after buying an additional 65,995 shares during the period. Renaissance Technologies LLC lifted its holdings in Honest by 117.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after buying an additional 846,300 shares during the period. Finally, State Street Corp lifted its holdings in Honest by 23.0% during the third quarter. State Street Corp now owns 1,181,469 shares of the company’s stock worth $4,218,000 after buying an additional 220,699 shares during the period. Hedge funds and other institutional investors 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.