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

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price 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 stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the sale, the insider now owns 157,345 shares of the company’s stock, valued at $9,549,268.05. This represents a 2.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total transaction of $7,465,960.29. Following the sale, the chief executive officer now owns 97,687 shares of the company’s stock, valued at approximately $5,692,221.49. This represents 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 firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $44.71, for a total value of $3,026,285.77. Following the transaction, the chief operating officer now owns 706,872 shares of the company’s stock, valued at approximately $31,604,247.12. This trade represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley downgraded shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $42.00 to $60.00 in a report on Tuesday. Needham & Company LLC upped their price target on shares of Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Piper Sandler increased their price target on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group raised their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.53.

Hims & Hers Health Stock Down 26.1 %

The stock has a 50-day moving average price of $35.05 and a 200 day moving average price of $25.70. The firm 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares during the last quarter. Creative Planning grew its holdings in Hims & Hers Health by 18.1% in the third quarter. Creative Planning now owns 25,925 shares of the company’s stock valued at $478,000 after purchasing an additional 3,979 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Hims & Hers Health during the third quarter valued at $6,790,000. Dakota Wealth Management acquired a new stake in shares of Hims & Hers Health during the third quarter valued at $245,000. Finally, Lake Street Advisors Group LLC grew its stake in Hims & Hers Health by 42.2% during the 3rd quarter. Lake Street Advisors Group LLC now owns 67,366 shares of the company’s stock valued at $1,241,000 after purchasing an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors 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.