The Honest Company, Inc. (NASDAQ:HNST) Receives $3.00 Average Price Target from Analysts

The Honest Company, Inc. (NASDAQ:HNST) has earned an average recommendation of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $3.00.

A number of equities research analysts recently issued reports on HNST shares. Lake Street Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $3.00 price target on the stock. in a research note on Thursday, November 6th. Morgan Stanley dropped their price target on Honest from $4.25 to $3.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Honest in a research note on Thursday, January 22nd. B. Riley Financial reaffirmed a “buy” rating on shares of Honest in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Honest in a report on Friday, January 16th.

Insiders Place Their Bets

In related news, CEO Carla Vernon sold 97,505 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $2.60, for a total value of $253,513.00. Following the sale, the chief executive officer directly owned 2,901,488 shares of the company’s stock, valued at $7,543,868.80. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Winchell sold 10,595 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $2.60, for a total transaction of $27,547.00. Following the completion of the sale, the insider directly owned 399,662 shares of the company’s stock, valued at approximately $1,039,121.20. The trade was a 2.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Honest

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vise Technologies Inc. purchased a new position in Honest during the 4th quarter valued at $141,000. Goldman Sachs Group Inc. lifted its position in shares of Honest by 70.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,520,331 shares of the company’s stock worth $3,922,000 after purchasing an additional 627,537 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Honest during the fourth quarter valued at $140,000. Geode Capital Management LLC boosted its stake in shares of Honest by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,323,572 shares of the company’s stock valued at $5,996,000 after purchasing an additional 28,579 shares during the period. Finally, Harbour Investments Inc. grew its holdings in shares of Honest by 876.1% in the fourth quarter. Harbour Investments Inc. now owns 19,521 shares of the company’s stock worth $50,000 after purchasing an additional 17,521 shares during the last quarter. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Price Performance

NASDAQ HNST opened at $2.14 on Friday. Honest has a 1-year low of $2.13 and a 1-year high of $6.46. The business has a 50 day simple moving average of $2.59 and a two-hundred day simple moving average of $3.26. The stock has a market capitalization of $239.23 million, a PE ratio of 35.67 and a beta of 2.30.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.