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

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped down before the market opened 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 traded.

Specifically, COO Melissa Baird sold 58,750 shares of Hims & Hers Health stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $21.04, for a total transaction of $1,236,100.00. Following the completion of the transaction, the chief operating officer now owns 630,166 shares in the company, valued at approximately $13,258,692.64. The trade was a 8.53 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.93, for a total transaction of $4,276,577.98. Following the completion of the sale, the chief financial officer now owns 112,186 shares in the company, valued at $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.

Analyst Upgrades and Downgrades

HIMS has been the topic of a number of analyst reports. TD Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday. Canaccord Genuity Group lifted their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their target price for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Finally, Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Trading Down 7.4 %

The firm has a 50 day moving average price of $20.21 and a two-hundred day moving average price of $19.09. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 49.55 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. During the same period in the previous year, the company posted ($0.04) earnings per share. Hims & Hers Health’s revenue was up 77.1% compared to the same quarter last year. As a group, research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HIMS. Renaissance Technologies LLC grew its stake in shares of Hims & Hers Health by 113.1% in the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after buying an additional 3,205,108 shares in the last quarter. Farallon Capital Management LLC grew its holdings in Hims & Hers Health by 3,890.5% during the 1st quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after purchasing an additional 1,634,000 shares in the last quarter. Wellington Management Group LLP increased its stake in Hims & Hers Health by 34.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after buying an additional 883,230 shares during the period. Geode Capital Management LLC increased its position in shares of Hims & Hers Health by 12.7% during the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after acquiring an additional 482,177 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Hims & Hers Health by 164.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after acquiring an additional 328,142 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

About Hims & Hers Health

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.