Ex-Netflix CFO Spends $1.17M on Hims Shares as Stock Drops 12%
NFLX•David Wells, former Netflix CFO and Hims board member, purchased 48,400 shares at an average of $24.235, investing roughly $1.17 million and raising his stake to 224,417 shares. Hims stock has fallen 12% month-to-date, tracking toward a weekly loss after missing first-quarter revenue and earnings estimates, even as it raised 2026 revenue guidance to $2.8-3.0 billion and saw Bank of America cut its price target to $25 citing GLP-1 growth risks.
1. Ex-Netflix CFO Purchases Stake in Hims
David Wells bought 48,400 shares of Hims at prices between $24.19 and $24.25, spending about $1.17 million and increasing his total holdings to 224,417 shares since joining the board in September 2020.
2. Stock Performance and Buy-the-Dip Context
Hims shares rose marginally to close at $23.85 but are down 12% this month, heading for a weekly loss as investor confidence in its GLP-1 growth outlook wanes.
3. First-Quarter Results and Updated Guidance
The company missed first-quarter revenue and earnings estimates yet raised its full-year 2026 revenue guidance to $2.8–3.0 billion and adjusted core profit target to $275–350 million.
4. BofA Lowers Price Target Citing GLP-1 Risks
Bank of America cut its price target on Hims to $25 from $28, highlighting reliance on a significant GLP-1 sales acceleration in the latter half of 2026, potential subscription pricing pressure, and heightened competition.
