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

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 244,672 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $90.23, for a total transaction of $22,076,754.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% 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, July 9th, Insight Holdings Group, Llc sold 181,499 shares of Hinge Health stock. The shares were 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 transaction of $121,484,027.61.
• 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 shares were sold at an average price of $71.15, for a total value 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 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 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 Performance

Shares of NYSE HNGE opened at $89.95 on Friday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of -7.29 and a beta of 1.13. The business’s 50-day simple moving average is $64.48 and its 200-day simple moving average is $49.91. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $91.07.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping 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 net margin of 78.95% and a negative return on equity of 310.62%. The business’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. As a group, equities research analysts forecast that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HNGE has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Barclays upped their price target on Hinge Health from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Royal Bank Of Canada raised their price objective on shares of Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Canaccord Genuity Group raised their target price on Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, KeyCorp upped their price objective on shares of Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $75.80.

Institutional Trading of Hinge Health

A number of hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health in the fourth quarter valued at about $26,000. CENTRAL TRUST Co bought a new position in Hinge Health during the first quarter worth about $37,000. First Horizon Corp increased its position in Hinge Health by 163.9% during the fourth 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 acquired a new stake in Hinge Health in the 4th quarter worth about $46,000.

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.