State of Alaska Department of Revenue Sells 86,315 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

State of Alaska Department of Revenue trimmed its position in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 79.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,385 shares of the company's stock after selling 86,315 shares during the period. State of Alaska Department of Revenue's holdings in Hims & Hers Health were worth $661,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HIMS. Private Advisor Group LLC bought a new position in Hims & Hers Health during the 4th quarter worth approximately $312,000. Handelsbanken Fonder AB increased its stake in shares of Hims & Hers Health by 24.6% during the fourth quarter. Handelsbanken Fonder AB now owns 33,400 shares of the company's stock valued at $808,000 after buying an additional 6,600 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Hims & Hers Health by 128.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,244,953 shares of the company's stock valued at $30,103,000 after purchasing an additional 700,500 shares in the last quarter. Amalgamated Bank boosted its position in shares of Hims & Hers Health by 751.2% during the fourth quarter. Amalgamated Bank now owns 55,887 shares of the company's stock valued at $1,351,000 after purchasing an additional 49,321 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of Hims & Hers Health during the fourth quarter valued at approximately $1,088,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Soleil Boughton sold 2,572 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $50.50, for a total value of $129,886.00. Following the completion of the sale, the insider directly owned 160,737 shares of the company's stock, valued at $8,117,218.50. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Dudum sold 65,110 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $59.22, for a total value of $3,855,814.20. Following the sale, the chief executive officer directly owned 95,105 shares of the company's stock, valued at $5,632,118.10. This represents a 40.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 705,790 shares of company stock worth $35,260,135. 17.71% of the stock is currently owned by company insiders.

Hims & Hers Health Stock Down 4.0%

Hims & Hers Health stock traded down $1.98 during midday trading on Tuesday, reaching $47.87. 35,602,967 shares of the stock traded hands, compared to its average volume of 23,261,582. The stock's fifty day moving average is $50.57 and its 200-day moving average is $39.86. Hims & Hers Health, Inc. has a 12 month low of $13.47 and a 12 month high of $72.98. The stock has a market cap of $10.71 billion, a P/E ratio of 69.38, a PEG ratio of 1.88 and a beta of 2.03.

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

Wall Street Analyst Weigh In

HIMS has been the topic of several analyst reports. Bank of America boosted their target price on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a report on Tuesday, April 29th. UBS Group set a $30.00 target price on Hims & Hers Health in a report on Monday, June 23rd. TD Cowen cut Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their price target for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $40.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, June 11th. Finally, Truist Financial set a $45.00 price objective on Hims & Hers Health in a research note on Tuesday, June 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $39.58.

Hims & Hers Health 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.