The Honest Company, Inc. (NASDAQ:HNST) Director Sells $3,510,750.00 in Stock

The Honest Company, Inc. (NASDAQ:HNST) Director Jessica Warren sold 465,000 shares of Honest stock in a transaction that occurred 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 $8,833,937.90. This trade represents a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Honest Trading Up 1.6 %

Honest stock opened at $7.06 on Friday. The Honest Company, Inc. has a 1-year low of $2.40 and a 1-year high of $8.97. The firm has a market cap of $712.78 million, a P/E ratio of -176.50 and a beta of 2.42. The firm has a 50-day moving average of $5.61 and a 200-day moving average of $4.20.

Hedge Funds Weigh In On Honest

Hedge funds have recently made changes to their positions in the business. Zacks Investment Management purchased a new stake in Honest in the third quarter worth $37,000. Creative Planning purchased a new stake in shares of Honest in the 3rd quarter worth about $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Honest during the 3rd quarter valued at about $40,000. Panagora Asset Management Inc. purchased a new position in shares of Honest during the second quarter valued at about $43,000. Finally, Castleview Partners LLC bought a new position in Honest in the third quarter worth about $71,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HNST has been the topic of a number of analyst reports. Alliance Global Partners lifted 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. B. Riley lifted their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Northland Securities boosted their target price on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Telsey Advisory Group raised their price target on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.21.

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.