Insider Selling: Hinge Health (NYSE:HNGE) Major Shareholder Sells 244,672 Shares

Key Points

• Insight Holdings Group, a major Hinge Health shareholder, sold 244,672 shares on July 7 at an average price of $90.23, worth about $22.1 million. The filing notes that large shareholders must disclose these trades to the SEC.
• The shareholder has been actively trimming its position, with several additional sales in late June and early July, including a 1.47 million-share sale on June 29 and a 530,982-share sale on June 25.
• Hinge Health stock has been strong recently, trading near its 52-week high of $91.07 and above both its 50-day and 200-day moving averages. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $75.80.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) major shareholder Insight Holdings Group, Llc sold 244,672 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $90.23, for a total value of $22,076,754.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Thursday, July 9th, Insight Holdings Group, Llc sold 181,499 shares of Hinge Health stock. The stock was sold at an average price of $90.20, for a total transaction of $16,371,209.80.
• On Thursday, June 25th, Insight Holdings Group, Llc sold 530,982 shares of Hinge Health stock. The stock was sold at an average price of $71.82, for a total transaction of $38,135,127.24.
• 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 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 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

HNGE traded up $1.45 during trading on Thursday, hitting $89.95. The stock had a trading volume of 1,278,767 shares, compared to its average volume of 2,213,831. Hinge Health Inc. has a one year low of $30.08 and a one year high of $91.07. The company has a 50 day moving average price of $64.48 and a 200-day moving average price of $49.91. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of -7.29 and a beta of 1.13.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company's quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. As a group, sell-side analysts predict that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James Financial lifted their target price on shares of Hinge Health from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, June 15th. Wells Fargo & Company boosted their price objective on Hinge Health from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, June 23rd. Robert W. Baird raised their target price on Hinge Health from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 17th. Wall Street Zen lowered Hinge Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. Finally, Barclays raised their price objective on shares of Hinge Health from $62.00 to $70.00 and gave the stock an "overweight" rating in a research report on Thursday, June 11th. Two 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.80.

Institutional Inflows and Outflows

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