Hims & Hers Health (NYSE:HIMS) Stock Price Down 5.4% on Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price dropped 5.4% on Wednesday following insider selling activity. The company traded as low as $19.80 and last traded at $21.04. Approximately 6,066,561 shares traded hands during trading, a decline of 26% from the average daily volume of 8,157,803 shares. The stock had previously closed at $22.24.

Specifically, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total value of $54,171.24. Following the completion of the sale, the insider now owns 169,935 shares in the company, valued at $3,935,694.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Chi sold 17,304 shares of Hims & Hers Health stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $22.00, for a total transaction of $380,688.00. Following the completion of the sale, the insider now owns 193,980 shares of the company’s stock, valued at approximately $4,267,560. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HIMS shares. Piper Sandler restated a “neutral” rating and issued a $18.00 price target on shares of Hims & Hers Health in a research report on Tuesday, August 6th. Imperial Capital cut shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. TD Cowen raised their price objective on Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Truist Financial upped their price target on shares of Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Finally, Needham & Company LLC initiated coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.21.

Hims & Hers Health Price Performance

The company has a 50 day simple moving average of $17.84 and a 200-day simple moving average of $17.99. The stock has a market capitalization of $4.52 billion, a P/E ratio of 252.63 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The firm had revenue of $315.65 million during the quarter, compared to the consensus estimate of $302.43 million. During the same period last year, the firm earned ($0.03) EPS. The business’s quarterly revenue was up 51.8% compared to the same quarter last year. As a group, equities analysts forecast that Hims & Hers Health, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in Hims & Hers Health by 679.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after acquiring an additional 1,603 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares during the period. CWM LLC increased its holdings in Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the period. Van ECK Associates Corp purchased a new position in Hims & Hers Health during the 2nd quarter valued at about $111,000. Finally, Amalgamated Bank raised its position in Hims & Hers Health by 55.9% during the 2nd quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock valued at $133,000 after purchasing an additional 2,354 shares during the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.