Hims & Hers Health (NYSE:HIMS) Shares Down 6.1% Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) fell 6.1% on Friday following insider selling activity. The stock traded as low as $26.58 and last traded at $26.74. 6,779,391 shares traded hands during trading, a decline of 33% from the average session volume of 10,044,754 shares. The stock had previously closed at $28.49.

Specifically, insider Michael Chi sold 17,303 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $27.97, for a total value of $483,964.91. Following the sale, the insider now directly owns 193,601 shares of the company’s stock, valued at approximately $5,415,019.97. This trade represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Oluyemi Okupe sold 4,213 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $29.98, for a total value of $126,305.74. Following the sale, the chief financial officer now owns 128,365 shares of the company’s stock, valued at approximately $3,848,382.70. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. In other Hims & Hers Health news, CFO Oluyemi Okupe sold 18,959 shares of Hims & Hers Health stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $25.77, for a total value of $488,573.43. Following the transaction, the chief financial officer now directly owns 132,578 shares of the company’s stock, valued at $3,416,535.06. The trade was a 12.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

HIMS has been the subject of several research reports. Morgan Stanley assumed coverage on Hims & Hers Health in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group boosted their price objective on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. TD Cowen reiterated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Piper Sandler restated a “neutral” rating and set a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Stock Down 6.8 %

The company’s fifty day moving average price is $26.37 and its two-hundred day moving average price is $21.49. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 60.37 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last released 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. The firm had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business’s revenue was up 77.1% on a year-over-year basis. During the same period last year, the firm posted ($0.04) EPS. Research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds have recently added to or reduced their stakes in HIMS. Renaissance Technologies LLC lifted its stake in shares of Hims & Hers Health by 113.1% during the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after acquiring an additional 3,205,108 shares during the period. Wellington Management Group LLP raised its holdings 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 purchasing an additional 883,230 shares during the last quarter. Geode Capital Management LLC lifted its position in Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after purchasing an additional 482,177 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Hims & Hers Health by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock valued at $10,663,000 after purchasing an additional 328,142 shares during the last quarter. Finally, Carnegie Investment Counsel acquired a new stake in shares of Hims & Hers Health during the 3rd quarter worth approximately $5,531,000. Institutional investors own 63.52% of the company’s stock.

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.