Hims & Hers Health (NYSE:HIMS) Trading Down 7.3% Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) shares traded down 7.3% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $32.31 and last traded at $32.16. 4,273,332 shares changed hands during trading, a decline of 68% from the average session 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 completion of the sale, the chief executive officer now directly owns 173,655 shares in the company, valued at $5,900,796.90. The trade was a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick Harrison Carroll sold 23,287 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $34.31, for a total transaction of $798,976.97. Following the sale, the insider now owns 209,661 shares in the company, valued at approximately $7,193,468.91. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HIMS. Citigroup reaffirmed a “sell” rating and set a $27.00 price target on shares of Hims & Hers Health in a research note on Thursday, March 6th. BTIG Research initiated coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Canaccord Genuity Group increased their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. TD Cowen reissued a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Piper Sandler raised their price objective on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.31.

Hims & Hers Health Trading Up 7.5 %

The stock has a market cap of $7.52 billion, a P/E ratio of 76.94 and a beta of 1.37. The business’s 50 day moving average price is $38.88 and its two-hundred day moving average price is $28.52.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $494.56 million. As a group, analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Hims & Hers Health

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