Honest (NASDAQ:HNST) Given New $7.00 Price Target at Telsey Advisory Group

Honest (NASDAQ:HNST) had its price target upped by Telsey Advisory Group from $6.00 to $7.00 in a research note published on Friday morning, Marketbeat.com reports. The brokerage currently has a market perform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Northland Securities raised their target price on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Tuesday, December 17th. Alliance Global Partners increased their target price on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, B. Riley lifted their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Three investment 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 stock. According to data from MarketBeat.com, Honest has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Honest Stock Down 6.8 %

HNST stock opened at $5.90 on Friday. The company’s fifty day simple moving average is $6.83 and its 200 day simple moving average is $4.78. Honest has a 12-month low of $2.40 and a 12-month high of $8.97. The firm has a market cap of $595.67 million, a price-to-earnings ratio of -147.50 and a beta of 2.45.

Insider Buying and Selling at Honest

In other Honest news, Director Jessica Warren sold 465,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the transaction, the director now directly owns 1,170,058 shares in the company, valued at approximately $8,833,937.90. This trade represents a 28.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brendan Sheehey sold 8,392 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $59,583.20. Following the completion of the sale, the general counsel now owns 516,816 shares of the company’s stock, valued at approximately $3,669,393.60. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 799,818 shares of company stock valued at $5,975,421. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Honest by 377.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company’s stock valued at $2,762,000 after buying an additional 611,844 shares during the last quarter. Franklin Resources Inc. bought a new stake in Honest during the third quarter worth $164,000. Virtu Financial LLC purchased a new position in Honest in the third quarter worth $219,000. Barclays PLC grew its stake in Honest by 298.9% in the 3rd quarter. Barclays PLC now owns 110,386 shares of the company’s stock valued at $394,000 after purchasing an additional 82,713 shares during the period. Finally, Geode Capital Management LLC grew its stake in Honest by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock valued at $6,468,000 after purchasing an additional 65,995 shares during the period. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

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.