Hims & Hers Health (NYSE:HIMS) Shares Down 7.3% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) fell 7.3% on Tuesday after an insider sold shares in the company. The company traded as low as $32.31 and last traded at $32.16. 4,273,332 shares traded hands during mid-day 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 the stock in a transaction on Monday, March 17th. The stock was 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 approximately $5,900,796.90. This trade represents a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Harrison Carroll sold 23,287 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total value of $798,976.97. Following the sale, the insider now owns 209,661 shares of the company’s stock, valued at approximately $7,193,468.91. This represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several equities analysts have commented on HIMS shares. Morgan Stanley downgraded 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 research report on Tuesday, February 18th. Truist Financial increased their target price on shares of Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Needham & Company LLC increased their target price on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Bank of America raised their price target on Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a research report on Tuesday. Finally, Piper Sandler raised their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.31.

Hims & Hers Health Price Performance

The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 76.94 and a beta of 1.37. The business’s fifty day simple moving average is $38.88 and its 200 day simple moving average is $28.52.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $481.14 million for the quarter, compared to analysts’ expectations of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Equities research analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently made changes to their positions in the business. Main Management ETF Advisors LLC purchased a new stake in shares of Hims & Hers Health in the 3rd quarter worth about $672,000. Blueshift Asset Management LLC increased its stake in Hims & Hers Health by 834.8% during the 3rd quarter. Blueshift Asset Management LLC now owns 245,013 shares of the company’s stock valued at $4,513,000 after purchasing an additional 218,804 shares in the last quarter. Means Investment CO. Inc. increased its stake in Hims & Hers Health by 23.5% during the 4th quarter. Means Investment CO. Inc. now owns 50,040 shares of the company’s stock valued at $1,210,000 after purchasing an additional 9,508 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Hims & Hers Health by 102.0% in the third quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after acquiring an additional 146,621 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Hims & Hers Health in the fourth quarter worth approximately $2,628,000. 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.