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Andrew Dudum, the Chief Executive Officer of Hims & Hers Health, Inc. (NYSE:HIMS), has sold a significant portion of his holdings in the company, according to a recent filing with the Securities and Exchange Commission. Dudum executed sales totaling over $5.5 million, with share prices ranging from $16.4679 to $16.9746.
The transactions, which took place on August 5, 2024, involved the sale of 100 shares at $16.87 each, 94,344 shares with an average weighted price of $16.4679, 94,444 shares at an average of $16.4709, 131,541 shares at $16.5323, and 12,903 shares at an average of $16.9746. These sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a specific time.
In addition to the sales, Dudum also acquired 188,888 shares of Class A Common Stock through the exercise of options at a price of $2.43 per share. The total value for these option exercises amounted to $458,997.
Following these transactions, Dudum's direct holdings have changed, but he still maintains substantial indirect ownership through various trusts and entities.
Investors often watch insider trading activity, like the sales and purchases made by Dudum, for indications of executives’ confidence in their company's current operations and future performance. The transactions by the CEO of Hims & Hers Health are part of the regular financial moves made by company insiders, which can provide insights into their perspective on the stock's valuation.
For more details on the CEO's transactions and current holdings, interested parties can refer to the full SEC filing.
In other recent news, Hims & Hers Health Inc. reported a substantial increase in its Q2 2024 earnings and user growth. The company's revenue surged by 52% year-over-year to $316 million, and adjusted EBITDA stood at $39 million. The total subscriber count escalated to 1.9 million, with an addition of nearly 155,000 new users. The company's weight management specialty achieved a $100 million annual revenue run rate within its first year, and the company anticipates it to be a key specialty in the future.
In terms of future expectations, Hims & Hers Health projected its 2024 revenue to be between $1.37 billion and $1.4 billion, with an adjusted EBITDA between $140 million and $155 million. The company also aims to have over 1 million personalized subscriptions by year-end.
Jefferies, an investment firm, recently adjusted the price target for Hims and Hers Health Inc., lowering it to $18.00 from the previous $23.00, while Deutsche Bank raised its price target to $23.00 from the previous $16.00. Both firms maintained a Hold rating on the company's shares. These adjustments reflect recent developments in the company's financial performance and growth prospects.
InvestingPro Insights
In light of the CEO's recent transactions, investors might be curious about the current financial metrics and future outlook for Hims & Hers Health, Inc. (HIMS). According to InvestingPro data, the company boasts a robust gross profit margin of 82.19% over the last twelve months as of Q2 2024, underscoring its efficiency in managing production costs relative to sales. Additionally, HIMS has demonstrated impressive revenue growth, with a 50.15% increase over the last twelve months, signaling strong market demand for its products and services.
Despite a significant one-week price drop of -13.34%, the company has experienced a substantial year-to-date price total return of 80.22%, reflecting investor optimism and market momentum. This aligns with one of the InvestingPro Tips that highlights a strong return over the last year, with a 115.59% one-year price total return, suggesting that even with recent volatility, the stock has performed exceptionally well over a longer period.
Moreover, two InvestingPro Tips provide additional context: the management's aggressive share buyback strategy and the expectation of net income growth this year. These actions often signal confidence from the management in the company's value and future prospects. For investors seeking more in-depth analysis, there are 17 additional InvestingPro Tips available, which can offer further guidance on HIMS's financial health and investment potential.
Investors can track the performance and outlook of Hims & Hers Health, Inc. more closely by visiting InvestingPro for additional tips and real-time data.
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