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

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $26.56, but opened at $25.54. Hims & Hers Health shares last traded at $25.13, with a volume of 2,446,829 shares trading hands.

Specifically, insider Michael Chi sold 17,303 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $27.97, for a total transaction of $483,964.91. Following the sale, the insider now owns 193,601 shares in the company, valued at $5,415,019.97. This trade represents a 8.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Oluyemi Okupe sold 4,213 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $29.98, for a total transaction of $126,305.74. Following the completion of the transaction, the chief financial officer now owns 128,365 shares of the company’s stock, valued at $3,848,382.70. This trade represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

HIMS has been the subject of a number of analyst reports. Piper Sandler reissued a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. TD Cowen reaffirmed a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Finally, Morgan Stanley started coverage on shares of Hims & Hers Health in a report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Stock Performance

The firm has a market cap of $5.50 billion, a P/E ratio of 57.21 and a beta of 1.25. The firm has a fifty day moving average of $26.37 and a 200-day moving average of $21.47.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. Equities research analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Hims & Hers Health

Several large investors have recently made changes to their positions in HIMS. Quest Partners LLC increased its position in Hims & Hers Health by 22.6% in the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after acquiring an additional 807 shares during the period. CWM LLC increased its holdings in shares of Hims & Hers Health by 21.4% during the third 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. Arizona State Retirement System raised its stake in shares of Hims & Hers Health by 3.0% during the second quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock valued at $815,000 after purchasing an additional 1,173 shares in the last quarter. Victory Capital Management Inc. grew its position in Hims & Hers Health by 6.6% in the 2nd quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock valued at $393,000 after buying an additional 1,212 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Hims & Hers Health by 5.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 33,775 shares of the company’s stock valued at $622,000 after buying an additional 1,864 shares during the period. Institutional investors and hedge funds 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.