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

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

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake 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 worth $489,817,000 after acquiring an additional 2,020,722 shares during the last quarter. Farallon Capital Management LLC increased its stake in Hims & Hers Health by 64,338.5% during the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after acquiring an additional 8,364,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in Hims & Hers Health by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock worth $168,079,000 after acquiring an additional 1,562,302 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Hims & Hers Health by 192.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock worth $152,436,000 after acquiring an additional 4,145,305 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Hims & Hers Health by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company's stock worth $104,724,000 after acquiring an additional 40,447 shares during the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Price Performance

HIMS traded up $0.36 on Monday, reaching $48.34. The company's stock had a trading volume of 27,287,587 shares, compared to its average volume of 23,484,508. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 70.06, a price-to-earnings-growth ratio of 1.76 and a beta of 2.02. Hims & Hers Health, Inc. has a 1 year low of $13.47 and a 1 year high of $72.98. The business's 50 day moving average is $52.23 and its 200 day moving average is $40.38.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued 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. The firm had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. Hims & Hers Health's revenue for the quarter was up 110.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 earnings per share. As a group, research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 89,311 shares of the company's stock, valued at $5,215,762.40. This trade represents a 58.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Melissa Baird sold 33,337 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 805,083 shares in the company, valued at approximately $21,994,867.56. This represents a 3.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 692,006 shares of company stock valued at $34,857,872. Insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HIMS shares. Bank of America upped their price target 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. Wall Street Zen upgraded Hims & Hers Health from a "hold" rating to a "buy" rating in a research note on Sunday, June 15th. TD Cowen lowered Hims & Hers Health from a "buy" rating to a "hold" rating and lowered their target price for the company from $44.00 to $30.00 in a research note on Tuesday, April 29th. Truist Financial set a $45.00 target price on Hims & Hers Health in a research note on Tuesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of "Hold" and a consensus target price of $39.58.

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.