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

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped down prior to trading 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 traded.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Leerink Partners upped their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, February 25th. Citigroup reissued a “sell” rating and set a $27.00 price objective on shares of Hims & Hers Health in a report on Thursday, March 6th. Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Finally, Needham & Company LLC lifted their price target on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.31.

Hims & Hers Health Stock Performance

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

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. On average, 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 large investors have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in Hims & Hers Health in the fourth quarter worth $28,000. Raleigh Capital Management Inc. lifted its position in shares of Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,100 shares during the period. Blume Capital Management Inc. lifted its position in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 600 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after purchasing an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Hims & Hers Health during the fourth quarter valued at about $38,000. 63.52% of the stock is currently owned by institutional investors.

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.