Hinge Health (NYSE:HNGE) Major Shareholder Sells $27,813,744.55 in Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 390,917 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $71.15, for a total value of $27,813,744.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more 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 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 value of $7,897,010.17.
• On Monday, June 22nd, Insight Holdings Group, Llc sold 224,399 shares of Hinge Health stock. The stock was sold at an average price of $70.95, for a total value 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 Stock Down 0.0%

HNGE traded down $0.02 during trading on Wednesday, hitting $70.36. 1,913,094 shares of the company traded hands, compared to its average volume of 1,895,251. Hinge Health Inc. has a one year low of $30.08 and a one year high of $72.39. The stock’s fifty day moving average is $55.45 and its 200 day moving average is $47.16. The firm has a market cap of $5.44 billion and a P/E ratio of -5.70.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping the consensus estimate 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 for the quarter. During the same period in the prior year, the firm posted $1.30 EPS. The business’s revenue was up 47.2% on a year-over-year basis. On average, equities research analysts forecast that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings raised Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Canaccord Genuity Group increased their price target on Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a report on Wednesday, June 10th. Finally, Raymond James Financial upped their price objective on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Institutional Trading of Hinge Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BIT Capital GmbH grew its stake in Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after buying an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after buying an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC lifted its holdings in shares of Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after acquiring an additional 1,253,743 shares during the last quarter. Marshall Wace LLP purchased a new position in Hinge Health in the fourth quarter worth $54,469,000. Finally, Millennium Management LLC grew its position in Hinge Health by 225.0% in the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after acquiring an additional 1,024,317 shares in the last quarter.

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.