Insider Selling: Hinge Health (NYSE:HNGE) Major Shareholder Sells $38,135,127.24 in Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 530,982 shares of Hinge Health stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $71.82, for a total value of $38,135,127.24. 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 Monday, June 29th, Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock. The shares were sold at an average price of $82.83, for a total value 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 value 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 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 $84.15 on Friday. The company’s 50-day moving average is $60.11 and its 200 day moving average is $48.50. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $86.66. The firm has a market capitalization of $6.51 billion, a P/E ratio of -6.82 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $182.31 million for the quarter. During the same quarter last year, the firm posted $1.30 earnings per share. The firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. On average, equities research analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in shares of Hinge Health during the 2nd quarter worth approximately $367,000. Sei Investments Co. purchased a new position in Hinge Health in the second quarter valued at approximately $869,000. Squarepoint Ops LLC purchased a new position in Hinge Health in the second quarter valued at approximately $19,706,000. Raymond James Financial Inc. bought a new position in Hinge Health during the second quarter valued at $3,258,000. Finally, Sandia Investment Management LP purchased a new stake in Hinge Health in the second quarter worth $657,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HNGE. Weiss Ratings raised Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Citigroup reiterated an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a research report on Wednesday, June 10th. Robert W. Baird upped their price objective on Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Finally, Truist Financial raised their target price on Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and an average price target 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.