SAN FRANCISCO – Hims & Hers Health, Inc. (NYSE:HIMS) CFO Okupe Oluyemi has sold a significant amount of company stock, according to recent regulatory filings. The transactions, which occurred on June 6, 2024, involved the sale of 98,635 shares at an average price of $21.4247, resulting in a total value of over $2.1 million.
The sales were conducted at prices ranging from $21.14 to $21.725. This information comes from a footnote in the Form 4 filing, which also states that Oluyemi is willing to provide full information regarding the number of shares sold at each separate price upon request.
In addition to the sales, the CFO also acquired shares through the exercise of options. The total value of exercised options for non-derivative securities was $518,129, with prices ranging between $5.01 and $11.53. These transactions reflect the CFO's use of options to purchase 86,398 shares at $5.01 each and 7,396 shares at $11.53 each.
The Form 4 filing also includes details about Oluyemi's remaining holdings in the company. Following the reported transactions, the CFO now owns 146,839 shares of Class A Common Stock directly.
The filing indicates that the reported transactions were executed in accordance with a Rule 10b5-1 trading plan, which was adopted by Oluyemi on May 10, 2023. Such plans allow company insiders to establish pre-arranged plans to buy or sell a specified number of shares at a predetermined time.
Hims & Hers Health, a company specializing in telehealth services and direct-to-consumer wellness products, has seen its stock fluctuate in recent times. Investors often scrutinize insider transactions for insights into executive sentiment toward their company's stock.
The company, which is incorporated in Delaware and has its headquarters in San Francisco, operates in the healthcare sector, providing a range of services and products aimed at improving health and wellness.
For more detailed information, investors are encouraged to review the full Form 4 filing from Hims & Hers Health, Inc. on the Securities and Exchange Commission's website.
In other recent news, Hims & Hers Health, Inc. has been the subject of several analyst revisions following the company's plans to expand its weight loss treatment options. BofA Securities increased its price target for Hims & Hers to $22.00, citing the potential of the company's GLP-1 drugs and a positive outlook for near-term revenue growth. Similarly, Canaccord Genuity raised its price target to $24.00 after the company announced the introduction of GLP-1 treatment to its weight loss solutions.
However, Citi revised its stance on Hims & Hers, downgrading the company from Buy to Neutral, despite raising the price target to $20.00. Citi cited potential regulatory and legal risks associated with the launch of the GLP-1 program. Meanwhile, Truist Securities maintained a Hold rating on Hims & Hers shares with a steady price target of $13.00, following the company's announcement of its weight loss program expansion.
Lastly, Citi initially maintained a Buy rating on Hims & Hers stock after the company launched its GLP-1 product line, but later downgraded it due to the aforementioned concerns. These recent developments highlight the varying perspectives of different analyst firms on Hims & Hers' strategic moves and potential growth.
InvestingPro Insights
As Hims & Hers Health, Inc. (NYSE:HIMS) experiences insider transactions, investors are keen to understand the company's financial health and future prospects. According to InvestingPro, Hims & Hers is expected to see net income growth this year, which may provide some context to the CFO's recent stock sales. Additionally, the sentiment among analysts is optimistic, with three analysts having revised their earnings estimates upwards for the upcoming period.
InvestingPro Data shows that Hims & Hers has a market capitalization of $4.64 billion and is trading near its 52-week high, with a price at 97.78% of this peak. The company has demonstrated impressive revenue growth, with a 55.65% increase over the last twelve months as of Q1 2024, and a 45.81% quarterly revenue growth in Q1 2024. Despite not being profitable over the last twelve months, the company's gross profit margin stands strong at 82.41%.
Investors looking for additional insights can find more InvestingPro Tips on the platform, which also includes metrics such as the company's liquid assets, debt levels, and valuation multiples. For those interested in a deeper analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 14 additional tips available on InvestingPro that can help investors make more informed decisions regarding their investments in Hims & Hers Health.
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