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

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) 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 traded.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HIMS. Needham & Company LLC lifted their target price on Hims & Hers Health from $28.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Canaccord Genuity Group lifted their target price on Hims & Hers Health from $38.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday. TD Cowen reiterated a "buy" rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Bank of America lifted their target price on Hims & Hers Health from $18.00 to $21.00 and gave the stock an "underperform" rating in a report on Thursday. Finally, Morgan Stanley downgraded Hims & Hers Health from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $28.53.

Hims & Hers Health Stock Down 26.1 %

The company has a market cap of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35. The company has a 50-day moving average of $35.05 and a 200-day moving average of $25.76.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its position in shares of Hims & Hers Health by 44.6% during the fourth quarter. Mackenzie Financial Corp now owns 29,096 shares of the company's stock valued at $704,000 after buying an additional 8,977 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Hims & Hers Health during the fourth quarter valued at approximately $99,000. Neo Ivy Capital Management boosted its position in Hims & Hers Health by 145.4% in the fourth quarter. Neo Ivy Capital Management now owns 166,734 shares of the company's stock worth $4,031,000 after purchasing an additional 98,798 shares during the last quarter. PharVision Advisers LLC purchased a new position in Hims & Hers Health in the fourth quarter worth $234,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Hims & Hers Health by 31.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 340,156 shares of the company's stock worth $8,225,000 after purchasing an additional 81,495 shares during the last quarter. Hedge funds and other institutional investors own 63.52% of the company's stock.

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.