Hinge Health (NYSE:HNGE) Major Shareholder Insight Holdings Group, Llc Sells 530,982 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 530,982 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $71.82, for a total value of $38,135,127.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Insight Holdings Group, Llc also recently made the following trade(s):

• On Monday, June 29th, Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61.
• On Wednesday, June 24th, Insight Holdings Group, Llc sold 142,311 shares of Hinge Health stock. The stock was sold at an average price of $71.67, for a total value of $10,199,429.37.
• On Wednesday, June 24th, Insight Holdings Group, Llc sold 390,917 shares of Hinge Health stock. The stock was sold at an average price of $71.15, for a total value of $27,813,744.55.
• On Tuesday, June 23rd, Insight Holdings Group, Llc sold 112,477 shares of Hinge Health stock. The shares were sold at an average price of $70.21, for a total transaction of $7,897,010.17.
• On Monday, June 22nd, Insight Holdings Group, Llc sold 224,399 shares of Hinge Health stock. The shares were sold at an average price of $70.95, for a total transaction of $15,921,109.05.
• On Tuesday, June 16th, Insight Holdings Group, Llc sold 65,581 shares of Hinge Health stock. The stock was sold at an average price of $70.36, for a total transaction of $4,614,279.16.

Hinge Health Trading Up 3.4%

NYSE HNGE opened at $81.69 on Tuesday. The stock has a market cap of $6.32 billion and a P/E ratio of -6.62. The company’s fifty day simple moving average is $57.69 and its 200-day simple moving average is $47.77. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $84.62.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business had revenue of $182.31 million during the quarter. During the same period in the previous year, the business posted $1.30 earnings per share. Hinge Health’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, research analysts expect that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HNGE shares. Stifel Nicolaus set a $79.00 target price on Hinge Health in a research note on Wednesday, June 10th. Royal Bank Of Canada boosted their price target on Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Wall Street Zen downgraded Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Truist Financial raised their price objective on Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Finally, Robert W. Baird lifted their price objective on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its position in shares of Hinge Health by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after purchasing an additional 300 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares during the last quarter. Lazard Asset Management LLC raised its stake in Hinge Health by 0.6% during the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after buying an additional 386 shares in the last quarter. First Horizon Corp raised its stake in Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Hinge Health during the 4th quarter worth approximately $26,000.

Hinge Health Company Profile

Hinge Health (NYSE: HNGE) is a digital musculoskeletal (MSK) clinic that provides end-to-end solutions for the prevention and management of musculoskeletal conditions. The company’s platform combines wearable motion sensors, personalized exercise therapy guided by licensed physical therapists, and behavioral health coaching to deliver tailored treatment plans. By integrating technology with evidence-based clinical protocols, Hinge Health aims to reduce pain, improve mobility and decrease reliance on more invasive interventions such as surgery or opioid prescriptions.

Founded in 2015 and headquartered in San Francisco, Hinge Health partners with employers, health plans and other payers to offer its self-directed, app-based programs.