Insider Selling: Hinge Health (NYSE:HNGE) Major Shareholder Sells $7,897,010.17 in Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 112,477 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $70.21, for a total transaction of $7,897,010.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 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 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 stock was sold at an average price of $70.36, for a total transaction of $4,614,279.16.

Hinge Health Stock Up 4.9%

Shares of HNGE stock opened at $78.84 on Friday. The company has a market cap of $6.10 billion and a P/E ratio of -6.39. The business has a 50 day moving average of $56.92 and a two-hundred day moving average of $47.55. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $79.26.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The business 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 firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. Analysts expect that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on HNGE shares. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Wells Fargo & Company boosted their price target on shares of Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial upped their price target on shares of Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Robert W. Baird increased their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen downgraded shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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 HNGE. Marshall Wace LLP acquired a new stake in shares of Hinge Health in the 2nd quarter worth approximately $367,000. Sei Investments Co. acquired a new position in shares of Hinge Health during the second quarter valued at approximately $869,000. Squarepoint Ops LLC bought a new stake in Hinge Health during the second quarter worth approximately $19,706,000. Raymond James Financial Inc. bought a new stake in Hinge Health during the second quarter worth approximately $3,258,000. Finally, Sandia Investment Management LP acquired a new stake in Hinge Health in the second quarter worth approximately $657,000.

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.