Institutional Venture Management XV LLC Decreases Holdings in Hims & Hers Health, Inc. (NYSE:HIMS)

Institutional Venture Management XV LLC lowered its holdings in Hims & Hers Health, Inc. (NYSE:HIMS) by 32.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,222,558 shares of the company’s stock after selling 2,500,000 shares during the period. Hims & Hers Health makes up 41.6% of Institutional Venture Management XV LLC’s investment portfolio, making the stock its 2nd largest position. Institutional Venture Management XV LLC’s holdings in Hims & Hers Health were worth $80,793,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Avantax Advisory Services Inc. bought a new position in Hims & Hers Health in the first quarter valued at $156,000. Cornerstone Investment Partners LLC bought a new stake in Hims & Hers Health in the 1st quarter worth approximately $161,000. Certuity LLC bought a new stake in Hims & Hers Health in the 4th quarter worth approximately $109,000. Belpointe Asset Management LLC boosted its stake in Hims & Hers Health by 10.0% in the fourth quarter. Belpointe Asset Management LLC now owns 13,238 shares of the company’s stock worth $118,000 after buying an additional 1,205 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Hims & Hers Health during the first quarter valued at approximately $228,000. Institutional investors own 63.52% of the company’s stock.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 2,335 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $20.28, for a total transaction of $47,353.80. Following the sale, the insider now directly owns 169,144 shares of the company’s stock, valued at approximately $3,430,240.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Melissa Baird sold 11,750 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.08, for a total value of $141,940.00. Following the completion of the transaction, the chief operating officer now directly owns 538,932 shares in the company, valued at approximately $6,510,298.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 2,335 shares of Hims & Hers Health stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $20.28, for a total transaction of $47,353.80. Following the transaction, the insider now directly owns 169,144 shares of the company’s stock, valued at $3,430,240.32. The disclosure for this sale can be found here. Insiders sold 981,485 shares of company stock worth $18,604,404 over the last three months. Company insiders own 17.71% of the company’s stock.

Analysts Set New Price Targets

HIMS has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Hims & Hers Health from $13.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Piper Sandler boosted their price target on shares of Hims & Hers Health from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Canaccord Genuity Group raised their price objective on Hims & Hers Health from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Canaccord Genuity Group began coverage on Hims & Hers Health in a research note on Wednesday, April 10th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Jefferies Financial Group raised their price target on Hims & Hers Health from $14.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, June 27th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.07.

Hims & Hers Health Stock Performance

Shares of Hims & Hers Health stock traded down $0.51 during midday trading on Tuesday, reaching $21.20. 5,341,474 shares of the company’s stock traded hands, compared to its average volume of 7,455,276. The stock has a 50 day moving average of $21.20 and a 200-day moving average of $15.51. Hims & Hers Health, Inc. has a 12 month low of $5.65 and a 12 month high of $25.74. The company has a market cap of $4.55 billion, a PE ratio of -2,120.00 and a beta of 1.08.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $278.20 million during the quarter, compared to analyst estimates of $270.37 million. Hims & Hers Health had a negative net margin of 0.24% and a negative return on equity of 0.70%. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. On average, equities analysts anticipate that Hims & Hers Health, Inc. will post 0.2 earnings per share for the current fiscal year.

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.