Hims & Hers Health (NYSE:HIMS) Stock Price Down 5.9% - Here's What Happened

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price traded down 5.9% during mid-day trading on Tuesday . The company traded as low as $57.61 and last traded at $56.91. 5,781,827 shares were traded during trading, a decline of 57% from the average session volume of 13,390,774 shares. The stock had previously closed at $60.47.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler increased their price objective on Hims & Hers Health from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Needham & Company LLC raised their price target on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a "buy" rating in a report on Monday, January 6th. Canaccord Genuity Group lifted their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday. Bank of America increased their price objective on shares of Hims & Hers Health from $18.00 to $21.00 and gave the company an "underperform" rating in a research report on Thursday. Finally, Morgan Stanley downgraded shares of 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 research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Hims & Hers Health presently has a consensus rating of "Hold" and an average target price of $28.53.

Hims & Hers Health Stock Down 26.1 %

The company has a fifty day simple moving average of $34.66 and a 200-day simple moving average of $25.48. The firm has a market cap of $10.73 billion, a P/E ratio of 111.58 and a beta of 1.35.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 33,513 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total value of $1,118,663.94. Following the completion of the sale, the chief executive officer now owns 33,502 shares in the company, valued at approximately $1,118,296.76. This represents a 50.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Soleil Boughton sold 2,343 shares of the firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total value of $70,055.70. Following the sale, the insider now directly owns 165,254 shares in the company, valued at approximately $4,941,094.60. This represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,184,611 shares of company stock worth $40,338,442. 17.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

A number of institutional investors and hedge funds have recently bought and sold shares of HIMS. Farallon Capital Management LLC grew its holdings in Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock valued at $202,556,000 after buying an additional 8,364,000 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock valued at $152,436,000 after acquiring an additional 4,145,305 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock valued at $489,817,000 after purchasing an additional 2,020,722 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in Hims & Hers Health in the fourth quarter worth $41,104,000. Finally, Renaissance Technologies LLC raised its stake in Hims & Hers Health by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock valued at $168,079,000 after purchasing an additional 1,562,302 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors.

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.