Hims & Hers Health (NYSE:HIMS) Shares Gap Down Following 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 $31.35, but opened at $29.90. Hims & Hers Health shares last traded at $29.83, with a volume of 3,359,925 shares.

Specifically, CFO Oluyemi Okupe sold 101,993 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $29.62, for a total transaction of $3,021,032.66. Following the completion of the transaction, the chief financial officer now owns 109,392 shares of the company’s stock, valued at $3,240,191.04. This represents a 48.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Soleil Boughton sold 2,343 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total value of $70,055.70. Following the transaction, the insider now directly owns 165,254 shares in the company, valued at $4,941,094.60. This trade represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HIMS. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their price target for the company from $32.00 to $18.00 in a report on Thursday, November 14th. TD Cowen reaffirmed a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Imperial Capital cut shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Price Performance

The company has a market cap of $6.63 billion, a P/E ratio of 68.98 and a beta of 1.06. The company’s 50-day moving average is $21.14 and its two-hundred day moving average is $19.57.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) 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 the consensus estimate of $382.20 million. During the same quarter last year, the firm posted ($0.04) EPS. The business’s quarterly revenue was up 77.1% compared to the same quarter last year. Equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in Hims & Hers Health by 679.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after acquiring an additional 1,603 shares during the period. Quest Partners LLC lifted its stake in shares of Hims & Hers Health by 5,944.1% in the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares during the period. Van ECK Associates Corp purchased a new position in shares of Hims & Hers Health in the second quarter worth approximately $111,000. CWM LLC grew its position in Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after buying an additional 1,054 shares during the period. Finally, Quarry LP increased its holdings in Hims & Hers Health by 91.0% during the third quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after buying an additional 2,913 shares during the last quarter. 63.52% of the stock is owned by 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.