Hims & Hers Health (NYSE:HIMS) Shares Gap Down Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) shares gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $68.74, but opened at $65.08. Hims & Hers Health shares last traded at $63.33, with a volume of 9,502,094 shares changing hands.

Specifically, insider Soleil Boughton sold 4,152 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the transaction, the insider now directly owns 157,345 shares in the company, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the business’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 in the company, valued at $5,692,221.49. The trade was a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, COO Melissa Baird sold 67,687 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $44.71, for a total transaction of $3,026,285.77. Following the transaction, the chief operating officer now directly owns 706,872 shares in the company, valued at approximately $31,604,247.12. The trade was a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target on the stock. Citigroup lowered shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $24.00 to $25.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. 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 report on Monday, January 6th. Finally, Bank of America boosted their target price on shares of Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Hims & Hers Health presently has a consensus rating of “Hold” and a consensus target price of $28.53.

Hims & Hers Health Trading Down 26.1 %

The firm’s fifty day moving average price is $35.05 and its 200 day moving average price is $25.70. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 111.58 and a beta of 1.35.

Institutional Investors Weigh In On Hims & Hers Health

Large investors have recently added to or reduced their stakes in the business. Main Management ETF Advisors LLC purchased a new stake in Hims & Hers Health during the 3rd quarter worth approximately $672,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Hims & Hers Health in the 3rd quarter valued at approximately $604,000. Royce & Associates LP increased its position in shares of Hims & Hers Health by 17.0% in the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after purchasing an additional 49,500 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Hims & Hers Health in the 3rd quarter valued at approximately $634,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Hims & Hers Health in the 3rd quarter valued at approximately $6,790,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.