Honest (NASDAQ:HNST) Stock Price Expected to Rise, Northland Securities Analyst Says

Honest (NASDAQ:HNST) had its target price boosted by Northland Securities from $7.50 to $9.50 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ target price points to a potential upside of 18.60% from the stock’s current price.

HNST has been the topic of a number of other reports. Telsey Advisory Group lifted their price objective on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. B. Riley increased their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Alliance Global Partners boosted their target price on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Two equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.21.

Honest Price Performance

Shares of HNST opened at $8.01 on Wednesday. The company has a market capitalization of $808.69 million, a PE ratio of -200.25 and a beta of 2.42. Honest has a one year low of $2.22 and a one year high of $8.97. The company’s fifty day moving average price is $4.86 and its 200 day moving average price is $3.91.

Insider Buying and Selling

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the 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 completion of the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brendan Sheehey sold 107,653 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.01, for a total value of $754,647.53. Following the completion of the transaction, the general counsel now directly owns 517,861 shares of the company’s stock, valued at approximately $3,630,205.61. The trade was a 17.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,634,818 shares of company stock valued at $10,514,671 over the last ninety days. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Franklin Resources Inc. bought a new position in shares of Honest in the 3rd quarter worth $164,000. Virtu Financial LLC acquired a new position in Honest in the 3rd quarter worth $219,000. Barclays PLC boosted its position in shares of Honest by 298.9% during the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock worth $394,000 after buying an additional 82,713 shares during the period. Geode Capital Management LLC grew its stake in shares of Honest by 3.8% during 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. Finally, XTX Topco Ltd increased its stake in Honest by 14.2% in the 3rd quarter. XTX Topco Ltd now owns 157,363 shares of the company’s stock valued at $562,000 after buying an additional 19,566 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.