Yong Rong HK Asset Management Ltd Purchases New Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Yong Rong HK Asset Management Ltd acquired a new position in shares of Hims & Hers Health, Inc. (NYSE:HIMS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,699,900 shares of the company’s stock, valued at approximately $41,104,000. Hims & Hers Health comprises 17.9% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 2nd largest holding. Yong Rong HK Asset Management Ltd owned 0.78% of Hims & Hers Health at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HIMS. CWM LLC grew its stake in shares of Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after acquiring an additional 1,054 shares in the last quarter. Creative Planning grew its position in shares of Hims & Hers Health by 18.1% during the 3rd quarter. Creative Planning now owns 25,925 shares of the company’s stock worth $478,000 after purchasing an additional 3,979 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Hims & Hers Health during the third quarter worth approximately $6,790,000. Dakota Wealth Management acquired a new stake in shares of Hims & Hers Health in the third quarter valued at approximately $245,000. Finally, Lake Street Advisors Group LLC boosted its stake in shares of Hims & Hers Health by 42.2% in the third quarter. Lake Street Advisors Group LLC now owns 67,366 shares of the company’s stock valued at $1,241,000 after buying an additional 20,000 shares during the period. Institutional investors own 63.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HIMS shares. Needham & Company LLC raised their price objective on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. TD Cowen restated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Bank of America upped their price target on shares of Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Hims & Hers Health presently has an average rating of “Hold” and an average price target of $28.53.

Insider Activity at Hims & Hers Health

In related news, CEO Andrew Dudum sold 33,513 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the completion of the transaction, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at $1,118,296.76. This trade represents a 50.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Soleil Boughton sold 4,152 shares of Hims & Hers Health stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total value of $251,984.88. Following the transaction, the insider now directly owns 157,345 shares in the company, valued at $9,549,268.05. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,184,611 shares of company stock worth $40,338,442 in the last quarter. 17.71% of the stock is owned by insiders.

Hims & Hers Health Trading Down 26.1 %

Shares of HIMS stock opened at $49.10 on Friday. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 111.58 and a beta of 1.35. The business’s 50-day moving average price is $35.05 and its 200-day moving average price is $25.76. Hims & Hers Health, Inc. has a 12 month low of $9.25 and a 12 month high of $72.98.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.