Hims & Hers health chief legal officer sells $280,314 in stock

SAN FRANCISCO—Boughton Soleil, the Chief Legal Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently sold shares of the company’s Class A common stock, according to a recent SEC filing. The transactions, conducted under a Rule 10b5-1 trading plan, involved the sale of 7,387 shares, totaling approximately $280,314.

The sales occurred in two separate transactions. On March 3, Soleil sold 4,151 shares at a price of $45.14 each. Subsequently, on April 14, an additional 3,236 shares were sold at $28.72 per share. Following these transactions, Soleil retains ownership of 162,898 shares in the company.

These transactions were part of a pre-established trading plan, allowing for the sale of stock at predetermined dates and prices. For comprehensive insider trading analysis and detailed financial metrics, explore the full HIMS research report available on InvestingPro.

In other recent news, Hims & Hers Health, Inc. reported first-quarter online revenue projections between $567 million and $601 million, surpassing the Visible Alpha consensus of $528.4 million. Despite this, BofA Securities maintained an Underperform rating with a $22 price target, citing a slowdown in sales growth and a decline in the average transaction value. Jefferies adjusted its price target to $25, maintaining a Hold rating, and noted the strategic shift to marketing branded GLP-1 medications, which could present challenges due to their high costs. Truist Securities also kept a Hold rating with a $39 target, viewing the expansion into weight-loss treatments positively but not expecting significant revenue from branded Tirzepatide. Leerink Partners maintained a Market Perform rating with a $40 target, highlighting the addition of Eli Lilly (NYSE:LLY)’s Zepbound and generic liraglutide as a strategic move to broaden the customer base.

BofA Securities expressed skepticism about the impact of Zepbound on sales, noting that its high price point on the Hims & Hers platform might deter consumers. Jefferies raised concerns about the sales potential of generic liraglutide due to its limited efficacy and relatively high price. Truist Securities noted that the new weight-loss offerings could serve as a marketing tool rather than a significant revenue driver. Leerink Partners took a cautious approach, emphasizing the need to assess the long-term growth trajectory of the weight loss segment. Overall, analysts have mixed views on the company’s recent developments, with some expressing concerns about the sustainability of growth and the impact of high-priced offerings on customer retention.

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