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

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price fell 17.6% during trading on Friday following insider selling activity. The stock 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 97,687 shares in the company, valued at $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.

Analyst Upgrades and Downgrades

HIMS has been the subject of a number of recent research reports. TD Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $42.00 to $60.00 in a report on Tuesday. Canaccord Genuity Group lifted their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research began coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Piper Sandler raised their price objective on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of “Hold” and a consensus target price of $28.53.

Hims & Hers Health Stock Performance

The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 124.59 and a beta of 1.35. The company has a fifty day simple moving average of $34.66 and a two-hundred day simple moving average of $25.48.

Institutional Trading of Hims & Hers Health

Institutional investors and hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in shares of Hims & Hers Health in the 4th quarter valued at about $28,000. Raleigh Capital Management Inc. grew its holdings in shares of Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,100 shares during the last quarter. Blume Capital Management Inc. boosted its stake in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 600 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Hims & Hers Health in the fourth quarter worth approximately $38,000. 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.