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

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $31.05, but opened at $29.16. Hims & Hers Health shares last traded at $30.03, with a volume of 3,419,380 shares changing hands.

Specifically, insider Soleil Boughton sold 3,236 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $27.77, for a total transaction of $89,863.72. Following the completion of the sale, the insider now owns 170,285 shares of the company’s stock, valued at $4,728,814.45. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Melissa Baird sold 67,687 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $34.84, for a total value of $2,358,215.08. Following the transaction, the chief operating officer now owns 751,243 shares in the company, valued at $26,173,306.12. The trade was a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

HIMS has been the topic of several recent research reports. Needham & Company LLC increased their price target on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Leerink Partners upped their price objective on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, February 25th. Piper Sandler lifted their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Bank of America increased 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, March 18th. Finally, BTIG Research started coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.31.

Hims & Hers Health Price Performance

The firm’s 50 day moving average price is $39.94 and its two-hundred day moving average price is $29.78. The stock has a market cap of $6.65 billion, a PE ratio of 68.09 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Hims & Hers Health

Institutional investors have recently added to or reduced their stakes in the stock. SlateStone Wealth LLC increased its position in shares of Hims & Hers Health by 4.0% during the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock valued at $257,000 after buying an additional 413 shares during the period. Blume Capital Management Inc. increased its holdings 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 worth $29,000 after acquiring an additional 600 shares during the period. Summit Investment Advisors Inc. lifted its stake in Hims & Hers Health by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company’s stock worth $480,000 after purchasing an additional 628 shares in the last quarter. Cim LLC boosted its holdings in Hims & Hers Health by 1.0% in the 4th quarter. Cim LLC now owns 71,869 shares of the company’s stock valued at $1,738,000 after purchasing an additional 694 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in Hims & Hers Health by 18.8% in the 4th quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock valued at $127,000 after purchasing an additional 833 shares during the period. Hedge funds and other 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.