Hims & Hers Health (NYSE:HIMS) Shares Down 7.3% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares traded down 7.3% on Tuesday following insider selling activity. The company traded as low as $32.31 and last traded at $32.16. 4,273,332 shares traded hands during trading, a decline of 68% from the average session volume of 13,503,571 shares. The stock had previously closed at $34.69.

Specifically, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $33.98, for a total transaction of $4,353,755.46. Following the sale, the chief executive officer now owns 173,655 shares in the company, valued at approximately $5,900,796.90. This represents a 42.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick Harrison Carroll sold 23,287 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total transaction of $798,976.97. Following the transaction, the insider now owns 209,661 shares in the company, valued at approximately $7,193,468.91. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here.

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Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Leerink Partners boosted their target price on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 25th. Morgan Stanley downgraded Hims & Hers Health from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Bank of America lifted their target price on Hims & Hers Health from $21.00 to $22.00 and gave the company an "underperform" rating in a research note on Tuesday. Citigroup reaffirmed a "sell" rating and set a $27.00 price target on shares of Hims & Hers Health in a research note on Thursday, March 6th. Finally, Piper Sandler lifted their price objective on Hims & Hers Health from $24.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.31.

Hims & Hers Health Trading Up 5.8 %

The firm has a market capitalization of $7.72 billion, a P/E ratio of 79.02 and a beta of 1.37. The business has a 50 day moving average of $39.02 and a 200-day moving average of $28.55.

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

Institutional Trading of Hims & Hers Health

Institutional investors have recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in Hims & Hers Health in the 4th quarter valued at approximately $28,000. Raleigh Capital Management Inc. lifted its position in shares of Hims & Hers Health by 1,100.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,100 shares in the last quarter. Blume Capital Management Inc. lifted its position in shares of Hims & Hers Health by 100.0% in the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 600 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Hims & Hers Health by 4,415.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock worth $36,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Hims & Hers Health in the fourth quarter valued at $38,000. 63.52% of the stock is currently owned by institutional investors.

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.