Insider Selling: Hinge Health (NYSE:HNGE) Major Shareholder Sells 1,466,667 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares 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 shares were 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 shares were 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 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 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 transaction of $4,614,279.16.

Hinge Health Price Performance

HNGE opened at $81.69 on Tuesday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $84.62. The firm has a market capitalization of $6.32 billion and a P/E ratio of -6.62. The company’s 50-day moving average is $57.69 and its 200 day moving average is $47.77.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data 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. The business had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. On average, equities research analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hinge Health in the fourth quarter valued at $26,000. CENTRAL TRUST Co purchased a new position in shares of Hinge Health during the 1st quarter valued at $37,000. First Horizon Corp grew 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 acquiring an additional 531 shares during the period. Finally, High Point Wealth Management LLC bought a new position in shares of Hinge Health during the 4th quarter worth $46,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented 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. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a research report on Wednesday, June 10th. Canaccord Genuity Group upped their price objective on Hinge Health from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Finally, Needham & Company LLC lifted their target price on Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and an average price target of $75.80.

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.