Envestnet Asset Management Inc. Grows Stake in Hims & Hers Health, Inc. (NYSE:HIMS)

Envestnet Asset Management Inc. grew its holdings in Hims & Hers Health, Inc. (NYSE:HIMS) by 139.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 78,686 shares of the company’s stock after buying an additional 45,791 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Hims & Hers Health were worth $1,903,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Hims & Hers Health by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after purchasing an additional 2,020,722 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock valued at $152,436,000 after buying an additional 4,145,305 shares in the last quarter. Geode Capital Management LLC increased its position in Hims & Hers Health by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company’s stock valued at $104,724,000 after buying an additional 40,447 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Hims & Hers Health by 7.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,796,838 shares of the company’s stock valued at $43,448,000 after buying an additional 129,416 shares during the last quarter. Finally, Yong Rong HK Asset Management Ltd bought a new position in Hims & Hers Health during the 4th quarter valued at about $41,104,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Needham & Company LLC upped their target price on shares of Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Canaccord Genuity Group increased their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. BTIG Research initiated coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Piper Sandler increased their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.08.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 4,153 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $35.30, for a total value of $146,600.90. Following the completion of the sale, the insider now directly owns 161,497 shares in the company, valued at $5,700,844.10. This trade represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Melissa Baird sold 33,333 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $25.78, for a total transaction of $859,324.74. Following the completion of the sale, the chief operating officer now owns 805,083 shares of the company’s stock, valued at approximately $20,755,039.74. This trade represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 712,998 shares of company stock valued at $27,992,450 over the last three months. 17.71% of the stock is owned by company insiders.

Hims & Hers Health Stock Performance

Shares of HIMS opened at $28.10 on Monday. The company’s fifty day moving average is $34.24 and its 200 day moving average is $31.08. Hims & Hers Health, Inc. has a fifty-two week low of $11.20 and a fifty-two week high of $72.98. The stock has a market capitalization of $6.24 billion, a PE ratio of 63.87 and a beta of 1.65.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. As a group, research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

About Hims & Hers Health

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.