Convergence Investment Partners LLC Takes $381,000 Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Convergence Investment Partners LLC purchased a new stake in Hims & Hers Health, Inc. (NYSE:HIMS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,762 shares of the company’s stock, valued at approximately $381,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in Hims & Hers Health during the 4th quarter valued at about $28,000. Raleigh Capital Management Inc. increased its stake in shares of Hims & Hers Health by 1,100.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,100 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Hims & Hers Health during the 4th quarter worth approximately $48,000. GAMMA Investing LLC increased its position in Hims & Hers Health by 2,173.7% during the fourth quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock worth $54,000 after buying an additional 2,152 shares in the last quarter. Finally, Principal Securities Inc. increased its position in Hims & Hers Health by 48.2% during the fourth quarter. Principal Securities Inc. now owns 3,079 shares of the company’s stock worth $74,000 after buying an additional 1,002 shares in the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Needham & Company LLC raised their price target on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Canaccord Genuity Group lifted their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley downgraded shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $42.00 to $60.00 in a report on Tuesday. TD Cowen reaffirmed a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Citigroup cut shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hims & Hers Health currently has an average rating of “Hold” and an average target price of $28.33.

Insider Transactions at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 101,993 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.62, for a total value of $3,021,032.66. Following the completion of the sale, the chief financial officer now owns 109,392 shares of the company’s stock, valued at $3,240,191.04. This represents a 48.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Soleil Boughton sold 2,343 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $29.90, for a total value of $70,055.70. Following the completion of the sale, the insider now directly owns 165,254 shares of the company’s stock, valued at $4,941,094.60. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,052,332 shares of company stock worth $32,620,497. 17.71% of the stock is currently owned by company insiders.

Hims & Hers Health Trading Up 17.7 %

HIMS stock opened at $68.87 on Thursday. Hims & Hers Health, Inc. has a 12-month low of $9.22 and a 12-month high of $72.98. The company has a market cap of $15.05 billion, a PE ratio of 156.54 and a beta of 1.35. The stock has a 50-day moving average price of $33.94 and a two-hundred day moving average price of $25.19.

Hims & Hers Health Company 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.