Hims & Hers Health (NYSE: HIMS) Chief Executive Officer Andrew Dudum has offloaded a massive block of company shares, marking the largest insider transaction since the firm went public.
According to a U.S. Securities and Exchange Commission filing released on August 11, Dudum, through a family trust, sold 660,000 shares on August 7 at an average price of $50.58, netting approximately $33.4 million.
The insider trade was conducted in an open market sale made outside his pre-established trading plan.
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This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).
Despite the sale, Dudum remains the company’s largest individual shareholder, holding about 8 million shares indirectly through various trusts and an additional 92,313 shares directly, a combined stake worth about $388 million.
Why Dudum sold his HIMS stake
Hims & Hers stated that the sale came from indirect holdings and was carried out for “tax and philanthropic purposes”.
“The referenced sales were indirectly associated with Mr. Dudum, outside of his personal holdings, for tax and philanthropic purposes. Andrew continues to hold his full personal stake and is committed to the company’s long-term growth,” the company said.
The timing of the disclosure is notable, as it came a day after Dudum took to social media to encourage investors to “go all in” on HIMS stock.
HIMS stock struggles
Notably, Hims & Hers, known for its treatments for hair loss, erectile dysfunction, and more recently, compounded weight-loss drugs, has seen its stock double over the past year.
As of press time, HIMS shares were trading at $47.96, down more than 4% on the day and over 13% for the week.
Although the stock has rallied more than 200% in the past year, recent bearish sentiment has emerged following quarterly earnings that fell short of Wall Street expectations.
In Q2 2025, Hims & Hers reported adjusted earnings of $0.17 per share, topping estimates of $0.15. Revenue rose 73% year-over-year to $544.8 million but came in just below analyst projections of $552 million. Net income surged to $42.5 million from $13.3 million a year earlier.
For the third quarter, the telehealth company projects revenue between $570 million and $590 million, in line with analyst expectations of $583 million.
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