Hims & Hers Health, Inc. (NYSE:HIMS) Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. has decreased its stake in Hims & Hers Health, Inc. by 24.9%, now holding 59,118 shares worth approximately $1.75 million.
• The company's earnings report showed a 110.7% increase in revenue year-over-year, with an EPS of $0.20, exceeding estimates.
• Several analysts have updated their target prices, with Bank of America raising its target for Hims & Hers stock to $26 while maintaining an "underperform" rating.

Envestnet Asset Management Inc. lessened its holdings in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 24.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,118 shares of the company's stock after selling 19,568 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Hims & Hers Health were worth $1,747,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock valued at $489,817,000 after acquiring an additional 2,020,722 shares in the last quarter. Farallon Capital Management LLC grew its position in Hims & Hers Health by 64,338.5% in the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock valued at $202,556,000 after acquiring an additional 8,364,000 shares in the last quarter. Renaissance Technologies LLC grew its position in Hims & Hers Health by 29.0% in the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock valued at $168,079,000 after acquiring an additional 1,562,302 shares in the last quarter. Geode Capital Management LLC grew its position in Hims & Hers Health by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company's stock valued at $104,724,000 after acquiring an additional 40,447 shares in the last quarter. Finally, Northern Trust Corp grew its position in Hims & Hers Health by 17.9% in the fourth quarter. Northern Trust Corp now owns 2,038,202 shares of the company's stock valued at $49,284,000 after acquiring an additional 308,886 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company's stock.

Analysts Set New Price Targets

HIMS has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Hims & Hers Health from a "buy" rating to a "hold" rating in a research report on Monday. Morgan Stanley reissued an "equal weight" rating and set a $40.00 price target on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. TD Cowen downgraded shares of Hims & Hers Health from a "buy" rating to a "hold" rating and decreased their price target for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Finally, Bank of America raised their price objective on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $39.83.

Hims & Hers Health Stock Up 1.0%

HIMS stock traded up $0.65 during mid-day trading on Thursday, reaching $66.18. The company had a trading volume of 38,105,488 shares, compared to its average volume of 29,812,406. The stock has a market capitalization of $14.81 billion, a P/E ratio of 95.91, a P/E/G ratio of 2.42 and a beta of 2.02. Hims & Hers Health, Inc. has a one year low of $13.47 and a one year high of $72.98. The stock's 50-day simple moving average is $53.46 and its two-hundred day simple moving average is $43.79.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. The company had revenue of $586.01 million for the quarter, compared to analysts' expectations of $535.21 million. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The firm's quarterly revenue was up 110.7% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. On average, research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Hims & Hers Health news, insider Michael Chi sold 2,100 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $57.52, for a total value of $120,792.00. Following the sale, the insider directly owned 278,654 shares in the company, valued at approximately $16,028,178.08. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 2,572 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $58.70, for a total value of $150,976.40. Following the transaction, the insider directly owned 155,593 shares in the company, valued at $9,133,309.10. This trade represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 737,704 shares of company stock valued at $40,644,035. 13.71% of the stock is owned by corporate insiders.

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.