Hims & Hers Health (NYSE:HIMS) Shares Down 7.3% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price was down 7.3% during trading on Tuesday following insider selling activity. The stock traded as low as $32.31 and last traded at $32.16. Approximately 4,273,332 shares changed hands during trading, a decline of 68% from the average daily volume of 13,503,571 shares. The stock had previously closed at $34.69.

Specifically, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $33.98, for a total transaction of $4,353,755.46. Following the sale, the chief executive officer now owns 173,655 shares in the company, valued at $5,900,796.90. This trade represents a 42.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patrick Harrison Carroll sold 23,287 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total transaction of $798,976.97. Following the completion of the sale, the insider now owns 209,661 shares in the company, valued at $7,193,468.91. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America boosted their price objective on shares of Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a research report on Tuesday. Morgan Stanley lowered shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Canaccord Genuity Group upped their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Citigroup reissued a “sell” rating and set a $27.00 price target on shares of Hims & Hers Health in a research report on Thursday, March 6th. Finally, Truist Financial upped their price objective on shares of Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.31.

Hims & Hers Health Stock Up 7.5 %

The company has a market cap of $7.52 billion, a price-to-earnings ratio of 76.94 and a beta of 1.37. The firm has a 50-day simple moving average of $38.88 and a 200 day simple moving average of $28.52.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. As a group, research analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Institutional Trading of Hims & Hers Health

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after purchasing an additional 2,020,722 shares during the period. Farallon Capital Management LLC increased its position in Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after purchasing an additional 8,364,000 shares during the period. Renaissance Technologies LLC increased its position in Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after purchasing an additional 4,145,305 shares during the period. Finally, State Street Corp increased its position in Hims & Hers Health by 4.7% during the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after purchasing an additional 206,078 shares during the period. Institutional investors and hedge funds own 63.52% of the company’s stock.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.