Yong Rong HK Asset Management Ltd Makes New $41.10 Million Investment in Hims & Hers Health, Inc. (NYSE:HIMS)

Yong Rong HK Asset Management Ltd acquired a new stake in Hims & Hers Health, Inc. (NYSE:HIMS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,699,900 shares of the company’s stock, valued at approximately $41,104,000. Hims & Hers Health accounts for 17.9% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 2nd biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in Hims & Hers Health in the fourth quarter worth $28,000. Raleigh Capital Management Inc. grew its stake in shares of Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,100 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Hims & Hers Health in the 4th quarter valued at about $48,000. GAMMA Investing LLC increased its position in Hims & Hers Health by 2,173.7% in the 4th quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock valued at $54,000 after buying an additional 2,152 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in Hims & Hers Health by 48.2% during the 4th quarter. Principal Securities Inc. now owns 3,079 shares of the company’s stock worth $74,000 after buying an additional 1,002 shares during the period. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Down 26.1 %

HIMS stock opened at $49.10 on Friday. The firm has a market cap of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35. The business has a 50 day moving average of $35.05 and a 200-day moving average of $25.76. Hims & Hers Health, Inc. has a 12-month low of $9.25 and a 12-month high of $72.98.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 2,343 shares of Hims & Hers Health stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total value of $70,055.70. Following the sale, the insider now owns 165,254 shares of the company’s stock, valued at approximately $4,941,094.60. The trade was a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Dudum sold 33,513 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the completion of the transaction, the chief executive officer now owns 33,502 shares in the company, valued at approximately $1,118,296.76. The trade was a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,184,611 shares of company stock valued at $40,338,442. Insiders own 17.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HIMS. Canaccord Genuity Group raised their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research began coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target for the company. TD Cowen restated a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Needham & Company LLC lifted their price objective on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Bank of America boosted their target price on shares of Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Hims & Hers Health currently has an average rating of “Hold” and an average target price of $28.53.

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.