Hims & Hers Health (NYSE:HIMS) Shares Down 4% on Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) traded down 4% during mid-day trading on Friday following insider selling activity. The company traded as low as $22.27 and last traded at $22.32. 5,744,006 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 7,450,186 shares. The stock had previously closed at $23.25.

Specifically, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $12.54, for a total value of $2,368,655.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hims & Hers Health news, insider Soleil Boughton sold 2,503 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $12.56, for a total value of $31,437.68. Following the completion of the sale, the insider now owns 161,860 shares in the company, valued at $2,032,961.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $12.54, for a total value of $2,368,655.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 983,988 shares of company stock valued at $18,635,842. 17.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HIMS has been the topic of several research analyst reports. Truist Financial boosted their target price on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Canaccord Genuity Group boosted their target price on Hims & Hers Health from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Piper Sandler upped their price target on Hims & Hers Health from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Canaccord Genuity Group started coverage on Hims & Hers Health in a research note on Wednesday, April 10th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Bank of America upped their price target on Hims & Hers Health from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.07.

Hims & Hers Health Stock Down 4.0 %

The firm has a 50 day moving average price of $20.92 and a 200 day moving average price of $15.15. The stock has a market cap of $4.79 billion, a P/E ratio of -2,232.00 and a beta of 1.08.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Hims & Hers Health had a negative return on equity of 0.70% and a negative net margin of 0.24%. The firm had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $270.37 million. During the same quarter last year, the business posted ($0.05) earnings per share. The firm’s revenue was up 45.8% on a year-over-year basis. Equities analysts predict that Hims & Hers Health, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently modified their holdings of HIMS. Vanguard Group Inc. raised its position in Hims & Hers Health by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock valued at $221,379,000 after purchasing an additional 136,907 shares in the last quarter. Forerunner Ventures Management LLC purchased a new position in shares of Hims & Hers Health in the 4th quarter valued at $86,836,000. Dimensional Fund Advisors LP increased its holdings in shares of Hims & Hers Health by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,147,927 shares of the company’s stock valued at $19,117,000 after acquiring an additional 193,507 shares during the period. Farallon Capital Management LLC increased its holdings in shares of Hims & Hers Health by 3,890.5% in the 1st quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after acquiring an additional 1,634,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Hims & Hers Health by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,294,759 shares of the company’s stock valued at $11,523,000 after acquiring an additional 22,009 shares during the period. 63.52% of the stock is owned by institutional investors.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.