Hinge Health (NYSE:HNGE) Major Shareholder Sells 244,672 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 244,672 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $90.23, for a total value of $22,076,754.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, July 9th, Insight Holdings Group, Llc sold 181,499 shares of Hinge Health stock. The stock was sold at an average price of $90.20, for a total value of $16,371,209.80.
• On Thursday, June 25th, Insight Holdings Group, Llc sold 530,982 shares of Hinge Health stock. The shares were sold at an average price of $71.82, for a total value of $38,135,127.24.
• On Monday, June 29th, Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock. The stock was 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 transaction 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 transaction 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 stock was 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 shares were sold at an average price of $70.36, for a total value of $4,614,279.16.

Hinge Health Stock Up 1.6%

Hinge Health stock traded up $1.45 during trading on Thursday, hitting $89.95. The stock had a trading volume of 1,278,767 shares, compared to its average volume of 2,213,831. The stock’s 50 day moving average is $64.48 and its two-hundred day moving average is $49.91. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $91.07. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of -7.29 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.33. The firm had revenue of $182.31 million for the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vista Investment Partners LLC bought a new position in shares of Hinge Health in the 2nd quarter worth $3,468,000. Assenagon Asset Management S.A. bought a new position in Hinge Health in the second quarter valued at $6,867,000. California State Teachers Retirement System increased its stake in Hinge Health by 35.2% in the first quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock valued at $738,000 after acquiring an additional 4,986 shares during the last quarter. Estuary Capital Management LP purchased a new stake in Hinge Health during the first quarter valued at about $15,201,000. Finally, Lazard Asset Management LLC lifted 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 worth $2,456,000 after purchasing an additional 386 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have commented on HNGE. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Barclays boosted their price target on shares of Hinge Health from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Evercore reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Hinge Health in a report on Wednesday, April 8th. Needham & Company LLC lifted their price objective on shares of Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Finally, KeyCorp increased their target price on Hinge Health from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

About Hinge Health

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.