Honest (NASDAQ:HNST) Shares Down 5.3% Following Insider Selling

The Honest Company, Inc. (NASDAQ:HNST) dropped 5.3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $7.13 and last traded at $7.15. Approximately 1,169,200 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 1,590,511 shares. The stock had previously closed at $7.55.

Specifically, Director Jessica Warren sold 465,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the sale, the director now owns 1,170,058 shares of the company’s stock, valued at approximately $8,833,937.90. This represents a 28.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HNST shares. B. Riley upped their target price on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Alliance Global Partners upped their price objective on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Telsey Advisory Group lifted their target price on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Finally, Northland Securities upped their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.21.

Honest Stock Performance

The business’s 50 day moving average is $5.54 and its 200 day moving average is $4.17.

Institutional Investors Weigh In On Honest

Institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd increased its stake in Honest by 7.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after purchasing an additional 5,330 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Honest by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after buying an additional 7,379 shares in the last quarter. XTX Topco Ltd raised its stake in Honest by 6.4% during the 2nd quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after acquiring an additional 8,282 shares in the last quarter. Zacks Investment Management acquired a new stake in Honest during the 3rd quarter worth $37,000. Finally, Creative Planning purchased a new stake in Honest in the third quarter valued at $39,000. Hedge funds and other institutional investors 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.