Hims & Hers Health (NYSE:HIMS) Trading Down 8.3% Following Insider Selling

Shares of Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) traded down 8.3% on Wednesday following insider selling activity. The company traded as low as $32.15 and last traded at $32.13. 8,395,259 shares traded hands during trading, a decline of 48% from the average session volume of 16,294,699 shares. The stock had previously closed at $35.04.

Specifically, CEO Andrew Dudum sold 50,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $36.39, for a total value of $1,819,500.00. Following the completion of the transaction, the chief executive officer now owns 92,103 shares of the company's stock, valued at $3,351,628.17. The trade was a 35.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Soleil Boughton sold 3,236 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $30.19, for a total transaction of $97,694.84. Following the sale, the insider now owns 159,662 shares in the company, valued at $4,820,195.78. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

HIMS has been the topic of several analyst reports. TD Cowen lowered shares of Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their price target for the stock from $44.00 to $30.00 in a research report on Tuesday. Piper Sandler lifted their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Truist Financial dropped their price objective on Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. BTIG Research assumed coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of Hims & Hers Health from $60.00 to $40.00 and set an "equal weight" rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.92.

Hims & Hers Health Trading Up 13.3 %

The company's 50-day simple moving average is $32.21 and its 200-day simple moving average is $31.49. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 93.14 and a beta of 1.65.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. On average, equities research analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently made changes to their positions in HIMS. Crewe Advisors LLC bought a new position in Hims & Hers Health during the 4th quarter worth approximately $28,000. Raleigh Capital Management Inc. increased its position in shares of Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,100 shares during the period. Blume Capital Management Inc. raised its stake in Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 600 shares during the last quarter. UMB Bank n.a. lifted its holdings in Hims & Hers Health by 247.5% in the first quarter. UMB Bank n.a. now owns 1,310 shares of the company's stock valued at $39,000 after buying an additional 933 shares during the period. Finally, Larson Financial Group LLC boosted its position in Hims & Hers Health by 47.7% during the first quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock valued at $42,000 after acquiring an additional 458 shares during the last quarter. 63.52% of the stock is 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.