Hims & Hers Health (NYSE:HIMS) Trading Down 5.4% Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) shares were down 5.4% during trading 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 were traded 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 the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $23.16, for a total transaction of $54,171.24. Following the transaction, the insider now directly owns 169,935 shares in the company, valued at $3,935,694.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Chi sold 17,304 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $22.00, for a total value of $380,688.00. Following the transaction, the insider now owns 193,980 shares in the company, 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

Several equities analysts recently issued reports on HIMS shares. Truist Financial raised their price target on Hims & Hers Health from $13.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Hims & Hers Health from $16.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. TD Cowen increased their price objective on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Bank of America increased their price objective on Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.21.

Hims & Hers Health Stock Performance

The company has a market cap of $4.09 billion, a P/E ratio of 238.25 and a beta of 1.06. The stock has a 50-day moving average of $17.89 and a two-hundred day moving average of $18.00.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Hims & Hers Health had a return on equity of 5.25% and a net margin of 1.70%. The company had revenue of $315.65 million during the quarter, compared to analyst estimates of $302.43 million. During the same quarter last year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was up 51.8% on a year-over-year basis. Research analysts predict that Hims & Hers Health, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Hims & Hers Health

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its holdings in shares of 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 purchasing an additional 1,603 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Hims & Hers Health by 5,944.1% in the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares in the last quarter. CWM LLC increased its holdings in shares of Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares in the last quarter. Van ECK Associates Corp bought a new stake in shares of Hims & Hers Health in the 2nd quarter worth $111,000. Finally, Amalgamated Bank increased its holdings in shares of Hims & Hers Health by 55.9% in the 2nd quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock worth $133,000 after purchasing an additional 2,354 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

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.