Hinge Health (NYSE:HNGE) Major Shareholder Insight Holdings Group, Llc Sells 1,466,667 Shares of Stock

Key Points

• Major shareholder Insight Holdings Group sold 1,466,667 Hinge Health shares on Monday at an average price of $82.83, generating about $121.5 million.
• The sale comes amid a series of recent insider disposals by Insight Holdings, including multiple transactions in late June at prices mostly around the low $70s.
• Hinge Health shares were trading up 3.4% at $81.69, near their 52-week high of $84.62, while analysts currently maintain an average “Moderate Buy” rating with a consensus target of $75.80.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 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 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 transaction of $38,135,127.24.
• On Wednesday, June 24th, Insight Holdings Group, Llc sold 142,311 shares of Hinge Health stock. The stock was 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 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 transaction of $7,897,010.17.
• On Monday, June 22nd, Insight Holdings Group, Llc sold 224,399 shares of Hinge Health stock. The shares were 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 Trading Up 3.4%

Shares of Hinge Health stock opened at $81.69 on Tuesday. The business has a 50-day moving average price of $57.69 and a two-hundred day moving average price of $47.77. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $84.62. The company has a market cap of $6.32 billion and a P/E ratio of -6.62.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The company had revenue of $182.31 million for the quarter. During the same quarter in the previous year, the company earned $1.30 EPS. The firm's revenue for the quarter was up 47.2% on a year-over-year basis. Equities research analysts forecast that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HNGE shares. Evercore reiterated an "outperform" rating and issued a $45.00 price objective on shares of Hinge Health in a research note on Wednesday, April 8th. Robert W. Baird increased their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 17th. Needham & Company LLC raised their price target on shares of Hinge Health from $63.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Raymond James Financial lifted 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. Finally, Canaccord Genuity Group upped their price objective on shares of Hinge Health from $65.00 to $76.00 and gave the company a "buy" rating in a report 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $75.80.

Hedge Funds Weigh In On Hinge Health

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

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.

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