Honest (NASDAQ:HNST) Given New $8.00 Price Target at Alliance Global Partners

by · The Markets Daily

Honest (NASDAQ:HNST – Free Report) had its price objective lifted by Alliance Global Partners from $5.75 to $8.00 in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on HNST. Northland Capmk upgraded Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities began coverage on shares of Honest in a report on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 price target for the company. Finally, B. Riley began coverage on shares of Honest in a report on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective on the stock. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Honest presently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Check Out Our Latest Stock Report on Honest

Honest Stock Up 6.3 %

NASDAQ:HNST opened at $6.91 on Wednesday. The stock has a market capitalization of $697.64 million, a PE ratio of -172.75 and a beta of 1.85. Honest has a 52 week low of $1.40 and a 52 week high of $7.14. The stock’s 50-day moving average price is $3.96 and its 200-day moving average price is $3.52.

Insider Activity

In related news, EVP Stephen Winchell sold 6,938 shares of the stock in a transaction 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 transaction, the executive vice president now owns 414,736 shares of the company’s stock, valued at $1,775,070.08. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This represents a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,461,187 shares of company stock valued at $8,739,880. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honest

Large investors have recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC grew its holdings in shares of 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. Vanguard Group Inc. lifted its holdings in Honest by 10.4% in the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after acquiring an additional 268,600 shares during the period. Geode Capital Management LLC boosted 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 in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Honest by 117.3% during 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. Finally, State Street Corp grew its holdings in Honest by 23.0% in the third 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 last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

About Honest

(Get Free Report)

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.

Featured Stories