Hims & Hers Health (NYSE:HIMS) Stock Price Down 17.6% on Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) fell 17.6% during trading on Friday after an insider sold shares in the company. The company traded as low as $49.05 and last traded at $54.71. 52,432,171 shares traded hands during trading, an increase of 213% from the average session volume of 16,771,090 shares. The stock had previously closed at $66.41.

Specifically, insider Soleil Boughton sold 4,152 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the sale, the insider now owns 157,345 shares of the company’s stock, valued at $9,549,268.05. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Dudum sold 128,127 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total transaction of $7,465,960.29. Following the sale, the chief executive officer now directly owns 97,687 shares in the company, valued at $5,692,221.49. The trade was a 56.74 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HIMS. Canaccord Genuity Group raised their price objective 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. Citigroup cut shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Needham & Company LLC raised their price objective on shares of Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. TD Cowen reissued a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Bank of America lifted their price target on shares of Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Hims & Hers Health currently has a consensus rating of “Hold” and a consensus target price of $28.53.

Hims & Hers Health Trading Down 26.1 %

The business has a fifty day simple moving average of $35.05 and a two-hundred day simple moving average of $25.70. The company has a market cap of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35.

Institutional Inflows and Outflows

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