Hims & Hers Health (NYSE:HIMS) Shares Down 5.7% Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares fell 5.7% during trading on Wednesday following insider selling activity. The company traded as low as $27.83 and last traded at $27.79. 3,337,652 shares changed hands during trading, a decline of 85% from the average session volume of 22,485,807 shares. The stock had previously closed at $29.46.

Specifically, CFO Oluyemi Okupe sold 11,581 shares of Hims & Hers Health stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $28.50, for a total value of $330,058.50. Following the completion of the transaction, the chief financial officer now owns 118,960 shares in the company, valued at approximately $3,390,360. The trade was a 8.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 3,236 shares of Hims & Hers Health stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $28.72, for a total value of $92,937.92. Following the completion of the transaction, the insider now directly owns 162,898 shares of the company's stock, valued at $4,678,430.56. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Hims & Hers Health news, insider Soleil Boughton sold 4,151 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $45.14, for a total value of $187,376.14. Following the completion of the sale, the insider now owns 166,134 shares in the company, valued at approximately $7,499,288.76. This trade represents a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley cut shares of Hims & Hers Health from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Piper Sandler upped 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. Needham & Company LLC raised their price target on Hims & Hers Health from $31.00 to $61.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Bank of America upped their target price on shares of Hims & Hers Health from $21.00 to $22.00 and gave the company an "underperform" rating in a research report on Tuesday, March 18th. Finally, BTIG Research initiated coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They issued a "buy" rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $38.25.

Hims & Hers Health Price Performance

The company has a market cap of $5.76 billion, a P/E ratio of 58.89 and a beta of 1.65. The company's 50-day moving average price is $37.26 and its 200-day moving average price is $30.79.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $481.14 million for the quarter, compared to analysts' expectations 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 predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SlateStone Wealth LLC lifted its position in Hims & Hers Health by 4.0% during the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company's stock worth $257,000 after purchasing an additional 413 shares during the period. Blume Capital Management Inc. lifted its holdings in shares of Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 600 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Hims & Hers Health by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company's stock worth $480,000 after acquiring an additional 628 shares in the last quarter. Cim LLC raised its position in Hims & Hers Health by 1.0% during the fourth quarter. Cim LLC now owns 71,869 shares of the company's stock valued at $1,738,000 after purchasing an additional 694 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in Hims & Hers Health by 18.8% during the fourth quarter. Harbour Investments Inc. now owns 5,269 shares of the company's stock worth $127,000 after purchasing an additional 833 shares during the last quarter. Institutional investors own 63.52% of the company's stock.

Hims & Hers Health Company Profile

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.