Arrowstreet Capital Limited Partnership Buys 4,145,305 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

Arrowstreet Capital Limited Partnership lifted its stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 192.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,304,202 shares of the company’s stock after acquiring an additional 4,145,305 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Hims & Hers Health were worth $152,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DnB Asset Management AS lifted its stake in Hims & Hers Health by 116.0% during the fourth quarter. DnB Asset Management AS now owns 138,665 shares of the company’s stock worth $3,353,000 after purchasing an additional 74,457 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Hims & Hers Health by 26.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 23,129 shares of the company’s stock valued at $559,000 after buying an additional 4,898 shares in the last quarter. X Square Capital LLC lifted its position in Hims & Hers Health by 2.9% in the 4th quarter. X Square Capital LLC now owns 77,233 shares of the company’s stock worth $1,867,000 after buying an additional 2,167 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Hims & Hers Health in the fourth quarter worth approximately $741,000. Finally, Sava Infond d.o.o. bought a new position in Hims & Hers Health during the fourth quarter valued at approximately $206,000. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Citigroup reissued a “sell” rating and issued a $27.00 target price on shares of Hims & Hers Health in a research note on Thursday, March 6th. Leerink Partners raised their price target on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 25th. Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $42.00 to $60.00 in a research report on Tuesday, February 18th. Finally, Bank of America raised their target price on shares of Hims & Hers Health from $21.00 to $22.00 and gave the stock an “underperform” rating in a report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.31.

Insider Activity at Hims & Hers Health

In related news, insider Soleil Boughton sold 268,932 shares of Hims & Hers Health stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the transaction, the insider now directly owns 169,803 shares of the company’s stock, valued at $4,712,033.25. This trade represents a 61.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Chi sold 7,259 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $24.07, for a total transaction of $174,724.13. Following the completion of the sale, the insider now owns 193,601 shares in the company, valued at approximately $4,659,976.07. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,061,718 shares of company stock worth $37,894,395 over the last ninety days. 17.71% of the stock is owned by corporate insiders.

Hims & Hers Health Trading Down 8.8 %

NYSE:HIMS opened at $29.11 on Monday. Hims & Hers Health, Inc. has a 12 month low of $11.20 and a 12 month high of $72.98. The company has a 50-day moving average price of $39.88 and a 200-day moving average price of $29.58. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 66.15 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

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.