Hims & Hers Health (NYSE:HIMS) Stock Price Down 7.7% Following Insider Selling

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) dropped 7.7% during mid-day trading on Friday following insider selling activity. The stock traded as low as $11.20 and last traded at $11.30. Approximately 7,689,312 shares changed hands during trading, an increase of 66% from the average daily volume of 4,621,117 shares. The stock had previously closed at $12.24.

Specifically, insider Soleil Boughton sold 4,080 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $10.03, for a total value of $40,922.40. Following the completion of the transaction, the insider now owns 154,345 shares in the company, valued at approximately $1,548,080.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Andrew Dudum sold 97,208 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $9.58, for a total transaction of $931,252.64. Following the completion of the sale, the chief executive officer now directly owns 51,653 shares in the company, valued at $494,835.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 4,080 shares of Hims & Hers Health stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $10.03, for a total value of $40,922.40. Following the sale, the insider now directly owns 154,345 shares in the company, valued at $1,548,080.35. The disclosure for this sale can be found here. Insiders have sold 736,191 shares of company stock valued at $9,733,700 over the last three months. 31.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HIMS shares. Canaccord Genuity Group initiated coverage on Hims & Hers Health in a research note on Wednesday, April 10th. They issued a “buy” rating and a $20.00 price target for the company. Leerink Partnrs reissued a “market perform” rating on shares of Hims & Hers Health in a research report on Monday, February 26th. Piper Sandler lifted their price objective on shares of Hims & Hers Health from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Jefferies Financial Group reissued a “hold” rating and set a $15.00 target price (down from $17.00) on shares of Hims & Hers Health in a report on Tuesday, April 16th. Finally, Citigroup raised their price target on shares of Hims & Hers Health from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.85.

Hims & Hers Health Stock Down 8.1 %

The firm’s 50 day simple moving average is $13.97 and its 200 day simple moving average is $10.22. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -103.27 and a beta of 0.97.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, February 26th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Hims & Hers Health had a negative return on equity of 7.21% and a negative net margin of 2.70%. The firm had revenue of $246.60 million for the quarter, compared to the consensus estimate of $245.84 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 47.4% on a year-over-year basis. Analysts anticipate that Hims & Hers Health, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Hims & Hers Health

Several institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new position in shares of Hims & Hers Health in the 4th quarter worth approximately $48,000. Cornerstone Investment Partners LLC bought a new stake in Hims & Hers Health during the first quarter worth approximately $161,000. EMC Capital Management grew its position in Hims & Hers Health by 80.0% in the third quarter. EMC Capital Management now owns 12,000 shares of the company’s stock worth $79,000 after buying an additional 5,332 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of Hims & Hers Health in the third quarter valued at $76,000. Finally, Certuity LLC acquired a new stake in shares of Hims & Hers Health during the 4th quarter valued at $109,000. Institutional investors and hedge funds 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.