Institutional Venture Management XVI LLC Has $80.79 Million Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Institutional Venture Management XVI LLC cut its holdings in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 32.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,222,570 shares of the company’s stock after selling 2,500,000 shares during the period. Hims & Hers Health accounts for 93.9% of Institutional Venture Management XVI LLC’s holdings, making the stock its biggest holding. Institutional Venture Management XVI LLC owned about 2.43% of Hims & Hers Health worth $80,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Hims & Hers Health by 23.0% in the fourth quarter. Victory Capital Management Inc. now owns 18,348 shares of the company’s stock worth $163,000 after purchasing an additional 3,429 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Hims & Hers Health in the 1st quarter worth approximately $701,000. Forerunner Ventures Management LLC purchased a new stake in shares of Hims & Hers Health during the fourth quarter valued at $86,836,000. Vanguard Group Inc. grew its stake in Hims & Hers Health by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 14,126,744 shares of the company’s stock valued at $88,857,000 after purchasing an additional 428,671 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Hims & Hers Health by 3,444.9% during the first quarter. Quantbot Technologies LP now owns 214,677 shares of the company’s stock worth $3,321,000 after purchasing an additional 208,621 shares during the period. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Stock Performance

Shares of HIMS traded down $0.51 during mid-day trading on Tuesday, hitting $21.20. 5,341,474 shares of the company were exchanged, compared to its average volume of 7,455,276. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of -2,120.00 and a beta of 1.08. Hims & Hers Health, Inc. has a 1-year low of $5.65 and a 1-year high of $25.74. The company has a 50 day moving average of $21.20 and a 200-day moving average of $15.51.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, May 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $270.37 million. Hims & Hers Health had a negative return on equity of 0.70% and a negative net margin of 0.24%. The business’s revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Research analysts anticipate that Hims & Hers Health, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HIMS shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hims & Hers Health from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Jefferies Financial Group boosted their target price on shares of Hims & Hers Health from $14.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, June 27th. Truist Financial upped their price target on shares of Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Piper Sandler lifted their price objective on Hims & Hers Health from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Citigroup downgraded Hims & Hers Health from a “buy” rating to a “neutral” rating and upped their target price for the stock from $16.00 to $20.00 in a research note on Wednesday, May 22nd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Hims & Hers Health currently has a consensus rating of “Moderate Buy” and an average target price of $19.07.

Insiders Place Their Bets

In related news, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $12.54, for a total transaction of $2,368,655.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $12.54, for a total value of $2,368,655.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Melissa Baird sold 11,750 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.08, for a total transaction of $141,940.00. Following the transaction, the chief operating officer now directly owns 538,932 shares of the company’s stock, valued at approximately $6,510,298.56. The disclosure for this sale can be found here. Insiders have sold a total of 981,485 shares of company stock valued at $18,604,404 in the last 90 days. 17.71% of the stock is owned by insiders.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.