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

The Honest Company, Inc. (NASDAQ:HNST) shares were down 5.3% during mid-day trading on Wednesday after an insider sold shares in the company. The company 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 that occurred on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total value of $3,510,750.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

HNST has been the subject of a number of analyst reports. B. Riley raised their target price 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. Alliance Global Partners boosted their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group increased their target price on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Finally, Northland Securities lifted their target price on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.21.

Honest Trading Up 2.6 %

The firm’s fifty day simple moving average is $5.54 and its two-hundred day simple moving average is $4.17.

Institutional Investors Weigh In On Honest

Institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd boosted its position in shares of Honest by 7.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock worth $288,000 after acquiring an additional 5,330 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Honest by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after purchasing an additional 7,379 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Honest by 6.4% in the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after purchasing an additional 8,282 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Honest in the third quarter valued at $37,000. Finally, Creative Planning bought a new position in Honest during the third quarter valued at $39,000. 45.54% of the stock is 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.