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

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $17.56, but opened at $17.11. Hims & Hers Health shares last traded at $16.71, with a volume of 1,528,158 shares traded.

Specifically, insider Soleil Boughton sold 4,915 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $20.01, for a total value of $98,349.15. Following the transaction, the insider now owns 159,357 shares of the company’s stock, valued at $3,188,733.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Patrick Harrison Carroll sold 10,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $13.00, for a total value of $130,000.00. Following the sale, the insider now directly owns 173,880 shares in the company, valued at $2,260,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 4,915 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $20.01, for a total value of $98,349.15. Following the completion of the transaction, the insider now owns 159,357 shares of the company’s stock, valued at $3,188,733.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 594,553 shares of company stock valued at $8,454,738. Company insiders own 17.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HIMS shares. Guggenheim increased their target price on Hims & Hers Health from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Imperial Capital raised Hims & Hers Health from an “in-line” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Wednesday, February 28th. Canaccord Genuity Group increased their price target on Hims & Hers Health from $20.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler increased their price target on Hims & Hers Health from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Hims & Hers Health from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.69.

Hims & Hers Health Stock Performance

The firm has a market cap of $3.40 billion, a P/E ratio of -1,582.50 and a beta of 0.97. The firm has a fifty day moving average of $14.11 and a 200-day moving average of $11.04.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $278.20 million for the quarter, compared to the consensus estimate of $270.37 million. Hims & Hers Health had a negative return on equity of 0.70% and a negative net margin of 0.24%. The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. Equities research analysts expect that Hims & Hers Health, Inc. will post 0.18 earnings per share for the current year.

Institutional Trading of Hims & Hers Health

Large investors have recently added to or reduced their stakes in the business. Graham Capital Management L.P. increased its position in Hims & Hers Health by 39.4% in the 3rd quarter. Graham Capital Management L.P. now owns 340,338 shares of the company’s stock valued at $2,141,000 after acquiring an additional 96,277 shares during the period. Forerunner Ventures Management LLC acquired a new stake in Hims & Hers Health in the 4th quarter valued at approximately $86,836,000. Swiss National Bank increased its position in Hims & Hers Health by 9.2% in the 3rd quarter. Swiss National Bank now owns 309,200 shares of the company’s stock valued at $1,945,000 after acquiring an additional 26,100 shares during the period. Vanguard Group Inc. increased its position in Hims & Hers Health by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 14,126,744 shares of the company’s stock valued at $88,857,000 after acquiring an additional 428,671 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Hims & Hers Health by 11.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 564,501 shares of the company’s stock valued at $3,551,000 after acquiring an additional 58,288 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 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.