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

Hims & Hers Health, Inc. (NYSE:HIMS) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $20.99, but opened at $20.18. Hims & Hers Health shares last traded at $21.80, with a volume of 3,416,847 shares trading hands.

Specifically, COO Melissa Baird sold 58,750 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $21.04, for a total value of $1,236,100.00. Following the sale, the chief operating officer now directly owns 630,166 shares of the company’s stock, valued at $13,258,692.64. This represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Oluyemi Okupe sold 142,886 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.93, for a total transaction of $4,276,577.98. Following the transaction, the chief financial officer now directly owns 112,186 shares of the company’s stock, valued at approximately $3,357,726.98. This represents a 56.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased 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. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price target for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their price objective on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Stock Performance

The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 49.55 and a beta of 1.06. The business’s 50 day simple moving average is $20.21 and its 200-day simple moving average is $19.09.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.26. The business had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business’s revenue was up 77.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share. As a group, sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after buying an additional 1,603 shares during the period. Quest Partners LLC increased its stake in shares of Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after acquiring an additional 3,507 shares during the period. CWM LLC raised its holdings in 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 in the last quarter. Van ECK Associates Corp acquired a new stake in Hims & Hers Health in the second quarter worth approximately $111,000. Finally, Quarry LP boosted its stake in Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.