Insight Holdings Group, Llc Sells 142,311 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 142,311 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $71.67, for a total value of $10,199,429.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 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 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 value 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 value of $4,614,279.16.

Hinge Health Price Performance

Shares of HNGE opened at $78.84 on Friday. The firm has a market cap of $6.10 billion and a P/E ratio of -6.39. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $79.26. The company has a 50 day simple moving average of $56.92 and a two-hundred day simple moving average of $47.55.

Hinge Health (NYSE:HNGE) last issued its 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 firm 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%. Hinge Health’s revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 EPS. On average, sell-side analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HNGE. Citizens Jmp raised their price objective on Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company raised their price target on Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, Raymond James Financial upped their price target on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.80.

Institutional Investors Weigh In On Hinge Health

Several institutional investors have recently modified their holdings of HNGE. BIT Capital GmbH boosted its holdings in shares of Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after purchasing an additional 1,466,577 shares during the period. Vanguard Group Inc. raised its holdings in Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after buying an additional 1,367,693 shares during the period. Tiger Global Management LLC raised its holdings in Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after buying an additional 1,253,743 shares during the period. Marshall Wace LLP bought a new stake in Hinge Health in the fourth quarter worth $54,469,000. Finally, Millennium Management LLC lifted its position in Hinge Health by 225.0% in the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after buying an additional 1,024,317 shares during the last quarter.

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.