Hinge Health (NYSE:HNGE) Major Shareholder Insight Holdings Group, Llc Sells 390,917 Shares

Key Points

• Insight Holdings Group, Hinge Health’s major shareholder, sold 390,917 shares on June 24 at an average price of $71.15, for proceeds of about $27.8 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Insight Holdings has also been actively trimming its stake in recent days, including sales of 112,477 shares on June 23, 224,399 shares on June 22, and 65,581 shares on June 16.
• Hinge Health shares were trading near their 52-week high, and the company recently reported strong quarterly revenue growth of 47.2% year over year, while analysts currently have a Moderate Buy consensus with an average price target of $75.80.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) major shareholder Insight Holdings Group, Llc sold 390,917 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $71.15, for a total transaction of $27,813,744.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

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

• 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 value 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 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 Hinge Health stock traded down $0.02 during midday trading on Wednesday, reaching $70.36. The company had a trading volume of 1,913,094 shares, compared to its average volume of 1,895,251. The stock has a fifty day moving average price of $55.45 and a 200 day moving average price of $47.16. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $72.39. The firm has a market cap of $5.44 billion and a PE ratio of -5.70.

Hinge Health (NYSE:HNGE - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.33. The business 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%. The business's revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 EPS. As a group, sell-side analysts forecast that Hinge Health Inc. will post 1.33 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. BIT Capital GmbH raised its position in Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company's stock valued at $154,033,000 after buying an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company's stock worth $121,027,000 after acquiring an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC raised its holdings in shares of Hinge Health by 227.1% in the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company's stock valued at $83,877,000 after purchasing an additional 1,253,743 shares during the last quarter. Millennium Management LLC lifted its position in shares of Hinge Health by 225.0% during the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company's stock valued at $68,729,000 after purchasing an additional 1,024,317 shares in the last quarter. Finally, Braidwell LP lifted its position in shares of Hinge Health by 43.3% during the fourth quarter. Braidwell LP now owns 1,304,623 shares of the company's stock valued at $60,600,000 after purchasing an additional 394,147 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have issued reports on HNGE shares. Truist Financial increased their price target on Hinge Health from $79.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Citizens Jmp upped their target price on Hinge Health from $65.00 to $80.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 6th. KeyCorp increased their target price on Hinge Health from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Weiss Ratings raised shares of Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Hinge Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock 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.

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