Yong Rong HK Asset Management Ltd Has $70.92 Million Stock Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Yong Rong HK Asset Management Ltd increased its stake in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 41.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,400,000 shares of the company's stock after acquiring an additional 700,100 shares during the period. Hims & Hers Health makes up approximately 16.5% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its 2nd biggest position. Yong Rong HK Asset Management Ltd owned 1.08% of Hims & Hers Health worth $70,920,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Hims & Hers Health by 11.1% during 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 during the last quarter. Farallon Capital Management LLC boosted its stake in shares of Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after purchasing an additional 8,364,000 shares during the period. Renaissance Technologies LLC grew its holdings in Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock valued at $168,079,000 after purchasing an additional 1,562,302 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock worth $152,436,000 after purchasing an additional 4,145,305 shares during the period. Finally, Geode Capital Management LLC raised its position in Hims & Hers Health by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company's stock worth $104,724,000 after purchasing an additional 40,447 shares during the period. 63.52% of the stock is owned by institutional investors.

Hims & Hers Health Price Performance

Shares of Hims & Hers Health stock opened at $47.92 on Monday. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 69.44, a PEG ratio of 1.76 and a beta of 2.02. The firm's 50-day moving average is $52.23 and its two-hundred day moving average is $40.38. Hims & Hers Health, Inc. has a 1 year low of $13.47 and a 1 year high of $72.98.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $586.01 million for the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The company's quarterly revenue was up 110.7% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share. On average, equities analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other news, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $58.40, for a total transaction of $7,482,616.80. Following the completion of the sale, the chief executive officer owned 89,311 shares in the company, valued at approximately $5,215,762.40. This represents a 58.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Melissa Baird sold 33,337 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $27.32, for a total value of $910,766.84. Following the completion of the sale, the chief operating officer directly owned 805,083 shares of the company's stock, valued at $21,994,867.56. The trade was a 3.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 692,006 shares of company stock valued at $34,857,872. Corporate insiders own 17.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HIMS. Citigroup restated a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Wall Street Zen upgraded Hims & Hers Health from a "hold" rating to a "buy" rating in a report on Sunday, June 15th. Morgan Stanley reiterated an "equal weight" rating and issued a $40.00 target price on shares of Hims & Hers Health in a research note on Wednesday, June 11th. UBS Group set a $30.00 target price on shares of Hims & Hers Health in a research note on Monday, June 23rd. Finally, TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and cut their price target for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Three equities research 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's stock. According to data from MarketBeat, Hims & Hers Health 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.

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