San Francisco—Boughton Soleil, Chief Legal Officer at Hims & Hers Health, Inc. (NYSE:HIMS), has sold 2,343 shares of the company's Class A common stock. The shares were sold at a price of $29.90 each, amounting to a total transaction value of $70,055. Following this transaction, Soleil retains ownership of 165,254 shares in the company.
The transaction was executed as part of a pre-arranged trading plan under Rule 10b5-1, which was adopted on September 10, 2023. Rule 10b5-1 plans allow company insiders to set up a predetermined schedule for buying or selling stock, which can help avoid concerns about insider trading.
In other recent news, Hims & Hers Health, Inc. reported a 77% year-over-year increase in third-quarter sales, surpassing $400 million, and projected Q4 2024 revenue between $465 million and $470 million. The company also announced the expansion of its board of directors and the appointment of a new independent director, Deb Autor. Amidst these developments, Hims & Hers Health has been the topic of several analyst reports. BofA Securities downgraded the company's rating from Buy to Underperform due to Amazon (NASDAQ:AMZN)'s entry into key markets. TD Cowen, on the other hand, reaffirmed its Buy rating on Hims & Hers, focusing on the impact of an FDA case involving the drug tirzepatide. The company's future seems to be influenced by the potential FDA leadership ties and the impending decision on the shortage of tirzepatide. These recent developments paint a picture of a company in a dynamic phase, navigating through regulatory changes and market competition.
InvestingPro Insights
While Boughton Soleil's recent stock sale might raise eyebrows, it's essential to view this transaction in the context of Hims & Hers Health's overall performance. According to InvestingPro data, the company has been experiencing significant growth, with revenue increasing by 56.7% over the last twelve months as of Q3 2024, reaching $1.24 billion. This robust growth is reflected in the stock's performance, with a remarkable 273.24% price return over the past year.
InvestingPro Tips highlight that Hims & Hers Health is expected to see net income growth this year, and analysts have revised their earnings estimates upward for the upcoming period. These positive indicators suggest that the company's fundamentals remain strong despite the insider sale.
It's worth noting that the stock is trading at a high P/E ratio of 65.89, which could indicate investor optimism about future growth prospects. However, the company's PEG ratio of 0.19 suggests that the stock may still be undervalued relative to its growth potential.
Investors seeking a more comprehensive analysis can access 20 additional InvestingPro Tips for Hims & Hers Health, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.