Honest (NASDAQ:HNST) Sets New 1-Year High – Here’s What Happened

The Honest Company, Inc. (NASDAQ:HNST)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $8.48 and last traded at $8.48, with a volume of 64766 shares trading hands. The stock had previously closed at $8.15.

Analyst Upgrades and Downgrades

HNST has been the topic of several analyst reports. B. Riley lifted their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Northland Securities increased their price target on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Northland Capmk raised shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Telsey Advisory Group increased their target price on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Finally, Alliance Global Partners upped their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $5.93.

Honest Stock Up 6.6 %

The firm’s 50 day moving average is $4.32 and its two-hundred day moving average is $3.69. The stock has a market cap of $877.34 million, a price-to-earnings ratio of -220.50 and a beta of 1.85.

Insider Buying and Selling at Honest

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. This represents a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Brendan Sheehey sold 8,392 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $3,669,393.60. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,542,680 shares of company stock worth $9,765,589. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Honest

A number of institutional investors have recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC boosted its position 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 worth $11,295,000 after buying an additional 191,547 shares during the period. Vanguard Group Inc. boosted its position in Honest by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after acquiring an additional 268,600 shares during the period. Geode Capital Management LLC increased its holdings in shares of 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. Renaissance Technologies LLC lifted its position in shares of Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after purchasing an additional 846,300 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of 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 purchasing 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.