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

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $68.74, but opened at $65.08. Hims & Hers Health shares last traded at $63.33, with a volume of 9,502,094 shares.

Specifically, insider Soleil Boughton sold 4,152 shares of Hims & Hers Health stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total value of $251,984.88. Following the transaction, the insider now owns 157,345 shares of the company’s stock, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the completion of the sale, the chief executive officer now directly owns 97,687 shares of the company’s stock, valued at approximately $5,692,221.49. The trade was a 56.74 % decrease in their position. The disclosure for this sale can be found here. In other news, COO Melissa Baird sold 67,687 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $44.71, for a total transaction of $3,026,285.77. Following the completion of the transaction, the chief operating officer now directly owns 706,872 shares in the company, valued at $31,604,247.12. The trade was a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BTIG Research assumed coverage on Hims & Hers Health in a research note on Tuesday, January 7th. They issued a “buy” rating and a $35.00 target price for the company. Morgan Stanley cut Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $42.00 to $60.00 in a report on Tuesday. Needham & Company LLC raised their price target on Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 6th. Bank of America increased their target price on Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.53.

Hims & Hers Health Price Performance

The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 111.58 and a beta of 1.35. The business’s fifty day moving average price is $35.05 and its 200-day moving average price is $25.70.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HIMS. Farallon Capital Management LLC boosted its holdings in Hims & Hers Health by 64,338.5% during the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after purchasing an additional 8,364,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Hims & Hers Health by 192.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock valued at $152,436,000 after acquiring an additional 4,145,305 shares during the last quarter. Vanguard Group Inc. boosted its stake in Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after acquiring an additional 2,020,722 shares during the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in shares of Hims & Hers Health in the fourth quarter valued at approximately $41,104,000. Finally, Renaissance Technologies LLC increased its holdings in Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after acquiring an additional 1,562,302 shares during the period. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hims & Hers Health

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.