Hims & Hers Health (NYSE:HIMS) Shares Down 5.4% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) shares dropped 5.4% during trading on Wednesday following insider selling activity. The stock traded as low as $19.80 and last traded at $21.04. Approximately 6,066,561 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 8,157,803 shares. The stock had previously closed at $22.24.

Specifically, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total value of $54,171.24. Following the transaction, the insider now owns 169,935 shares in the company, valued at approximately $3,935,694.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Chi sold 17,304 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $22.00, for a total transaction of $380,688.00. Following the sale, the insider now directly owns 193,980 shares of the company’s stock, valued at $4,267,560. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HIMS shares. TD Cowen increased their price objective on shares of Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised their target price on Hims & Hers Health from $16.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Bank of America increased their price target on shares of Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Piper Sandler reissued a “neutral” rating and set a $18.00 price objective on shares of Hims & Hers Health in a research report on Tuesday, August 6th. Finally, Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.21.

Hims & Hers Health Price Performance

The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 252.63 and a beta of 1.06. The business has a fifty day moving average price of $17.84 and a two-hundred day moving average price of $17.99.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $315.65 million during the quarter, compared to analysts’ expectations of $302.43 million. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The business’s revenue was up 51.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. On average, research analysts predict that Hims & Hers Health, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Hims & Hers Health

A number of large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in shares of Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after acquiring an additional 1,603 shares during the last quarter. Quest Partners LLC raised its stake in Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Hims & Hers Health in the 2nd quarter valued at approximately $111,000. CWM LLC raised its position in shares of Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after buying an additional 1,054 shares during the period. Finally, Amalgamated Bank lifted its holdings in Hims & Hers Health by 55.9% in the second quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock valued at $133,000 after acquiring an additional 2,354 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Company Profile

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.