Hinge Health (NYSE:HNGE) Major Shareholder Insight Holdings Group, Llc Sells 1,466,667 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major 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 Thursday, June 25th, Insight Holdings Group, Llc sold 530,982 shares of Hinge Health stock. The stock was sold at an average price of $71.82, for a total value of $38,135,127.24.
• 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 shares were 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 stock was 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 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 2.3%

Shares of HNGE stock opened at $83.37 on Wednesday. The company has a market capitalization of $6.45 billion and a price-to-earnings ratio of -6.76. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $84.62. The stock’s fifty day simple moving average is $58.49 and its 200-day simple moving average is $48.00.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $182.31 million during the quarter. During the same quarter in the previous year, the company earned $1.30 EPS. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, sell-side analysts predict that Hinge Health Inc. will post 1.33 EPS for the current year.

Institutional Investors Weigh In On Hinge Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after acquiring an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health in the 4th quarter valued at about $26,000. First Horizon Corp increased its stake in shares of Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares during the last quarter. CENTRAL TRUST Co bought a new stake in shares of Hinge Health in the 1st quarter valued at about $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Hinge Health in the 3rd quarter valued at about $49,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HNGE. Barclays upped their price objective on Hinge Health from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. KeyCorp boosted 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. Wall Street Zen lowered Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Piper Sandler reiterated an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Finally, Citizens Jmp raised their target price on shares of Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.