Hims & Hers Health (NYSE:HIMS) Trading Down 17.6% Following Insider Selling

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) traded down 17.6% during trading on Friday after an insider sold shares in the company. The company traded as low as $49.05 and last traded at $54.71. 52,432,171 shares were traded during trading, an increase of 213% from the average session volume of 16,771,090 shares. The stock had previously closed at $66.41.

Specifically, insider Soleil Boughton sold 4,152 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total value of $251,984.88. Following the sale, the insider now directly owns 157,345 shares in the company, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Dudum sold 128,127 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total transaction of $7,465,960.29. Following the transaction, the chief executive officer now owns 97,687 shares of the company’s stock, valued at $5,692,221.49. This represents a 56.74 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of research firms have issued reports on HIMS. Needham & Company LLC boosted their target price on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Bank of America boosted their price objective on Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a research report on Thursday. Canaccord Genuity Group raised their target price on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup cut Hims & Hers Health from a “neutral” rating to a “sell” rating and increased their price target for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.53.

Hims & Hers Health Price Performance

The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 124.59 and a beta of 1.35. The firm has a 50 day moving average price of $34.66 and a 200-day moving average price of $25.48.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Crewe Advisors LLC bought a new stake in shares of Hims & Hers Health during the 4th quarter valued at $28,000. Raleigh Capital Management Inc. increased its stake in shares of Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,100 shares during the last quarter. Blume Capital Management Inc. raised its position in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares during the period. Smartleaf Asset Management LLC boosted its stake in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after acquiring an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in Hims & Hers Health during the fourth quarter valued at approximately $38,000. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

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.