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

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price fell 17.6% during mid-day trading on Friday following insider selling activity. The company traded as low as $49.05 and last traded at $54.71. 52,432,171 shares were traded during mid-day 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 Hims & Hers Health stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares of the company’s stock, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 97,687 shares of the company’s stock, valued at $5,692,221.49. This trade represents a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several brokerages have issued reports on HIMS. Morgan Stanley cut 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 report on Tuesday, February 18th. Bank of America lifted their target price on shares of Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a report on Thursday. Citigroup cut shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $24.00 to $25.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, BTIG Research began coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.53.

Hims & Hers Health Price Performance

The firm’s 50-day moving average is $35.05 and its 200-day moving average is $25.76. The company has a market capitalization of $10.73 billion, a P/E ratio of 111.58 and a beta of 1.35.

Institutional Trading of Hims & Hers Health

Several large investors have recently added to or reduced their stakes in HIMS. Crewe Advisors LLC bought a new stake in Hims & Hers Health during the fourth quarter valued at approximately $28,000. Raleigh Capital Management Inc. boosted 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 during the period. Blume Capital Management Inc. boosted 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 during the period. Smartleaf Asset Management LLC boosted its position in shares of Hims & Hers Health by 4,415.6% in 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 period. Finally, Summit Securities Group LLC bought a new position in shares of Hims & Hers Health in the fourth quarter worth approximately $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.