SVB Wealth LLC Makes New $421,000 Investment in Hims & Hers Health, Inc. (NYSE:HIMS)

SVB Wealth LLC purchased a new stake in Hims & Hers Health, Inc. (NYSE:HIMS) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,206 shares of the company’s stock, valued at approximately $421,000.

A number of other large investors have also made changes to their positions in the stock. Belpointe Asset Management LLC grew its holdings in Hims & Hers Health by 10.0% in the 4th quarter. Belpointe Asset Management LLC now owns 13,238 shares of the company’s stock valued at $118,000 after buying an additional 1,205 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Hims & Hers Health by 5.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,335 shares of the company’s stock valued at $261,000 after purchasing an additional 1,561 shares during the period. Swiss National Bank increased its position in Hims & Hers Health by 0.7% during the first quarter. Swiss National Bank now owns 281,500 shares of the company’s stock worth $4,355,000 after purchasing an additional 2,000 shares during the last quarter. ProShare Advisors LLC raised its stake in Hims & Hers Health by 10.0% during the first quarter. ProShare Advisors LLC now owns 22,257 shares of the company’s stock worth $344,000 after purchasing an additional 2,023 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Hims & Hers Health by 17.9% in the 1st quarter. Principal Financial Group Inc. now owns 16,655 shares of the company’s stock valued at $258,000 after purchasing an additional 2,525 shares during the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HIMS. Truist Financial raised their price target 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. Deutsche Bank Aktiengesellschaft lifted their target price on Hims & Hers Health from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Piper Sandler increased their price target on Hims & Hers Health from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Canaccord Genuity Group raised their price objective on Hims & Hers Health from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, Canaccord Genuity Group started coverage on shares of Hims & Hers Health in a research report on Wednesday, April 10th. They issued a “buy” rating and a $20.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.07.

Insider Activity

In related news, CEO Andrew Dudum sold 188,888 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $12.54, for a total value of $2,368,655.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Christiane Pendarvis sold 4,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $12.33, for a total transaction of $49,320.00. Following the completion of the transaction, the director now directly owns 11,210 shares of the company’s stock, valued at approximately $138,219.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Dudum sold 188,888 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $12.54, for a total value of $2,368,655.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 981,485 shares of company stock worth $18,604,404. 17.71% of the stock is currently owned by company insiders.

Hims & Hers Health Price Performance

Hims & Hers Health stock traded up $0.27 during mid-day trading on Tuesday, reaching $21.98. 1,660,798 shares of the company’s stock were exchanged, compared to its average volume of 7,429,916. Hims & Hers Health, Inc. has a twelve month low of $5.65 and a twelve month high of $25.74. The company has a fifty day moving average of $21.13 and a 200-day moving average of $15.42.

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

Hims & Hers Health Company Profile

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.