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

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $31.05, but opened at $29.16. Hims & Hers Health shares last traded at $30.03, with a volume of 3,419,380 shares.

Specifically, insider Soleil Boughton sold 3,236 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $27.77, for a total transaction of $89,863.72. Following the completion of the transaction, the insider now owns 170,285 shares in the company, valued at approximately $4,728,814.45. This represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Melissa Baird sold 67,687 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $34.84, for a total transaction of $2,358,215.08. Following the sale, the chief operating officer now directly owns 751,243 shares in the company, valued at approximately $26,173,306.12. This trade represents a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

HIMS has been the topic of several research reports. Leerink Partners boosted their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, February 25th. Canaccord Genuity Group increased their target price on Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Bank of America lifted their price target on Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a research report on Tuesday, March 18th. Needham & Company LLC increased their price objective on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $42.00 to $60.00 in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.31.

Hims & Hers Health Stock Up 0.4 %

The stock has a 50-day simple moving average of $39.97 and a two-hundred day simple moving average of $29.79. The firm has a market cap of $6.92 billion, a PE ratio of 70.82 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company 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%. Research analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. Farallon Capital Management LLC boosted its position in Hims & Hers Health by 64,338.5% during the fourth 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 during the period. Arrowstreet Capital Limited Partnership increased its stake 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 worth $152,436,000 after purchasing an additional 4,145,305 shares during the period. Vanguard Group Inc. lifted its position in 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 during the last quarter. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Hims & Hers Health during the fourth quarter valued at approximately $41,104,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Hims & Hers Health by 29.0% in the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 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.