Insight Holdings Group, Llc Sells 224,399 Shares of Hinge Health (NYSE:HNGE) Stock

Key Points

• Insight Holdings Group sold 224,399 shares of Hinge Health on June 22 at an average price of $70.95, totaling about $15.9 million. The sale was made under a pre-arranged Rule 10b5-1 plan.
• The shareholder also reported additional Hinge Health sales around the same period, including 390,917 shares on June 24 and 112,477 shares on June 23, signaling continued insider selling activity.
• Hinge Health shares were trading near their 52-week high at $70.36, while analysts remained generally positive with an average Moderate Buy rating and a consensus price target of $75.80.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) major shareholder Insight Holdings Group, Llc sold 224,399 shares of Hinge Health stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $70.95, for a total value of $15,921,109.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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 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 Stock Performance

Shares of HNGE traded down $0.02 during trading hours on Wednesday, reaching $70.36. 1,913,094 shares of the company traded hands, compared to its average volume of 1,895,251. The stock's fifty day moving average is $55.45 and its 200 day moving average is $47.16. The stock has a market cap of $5.44 billion and a P/E ratio of -5.70. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $72.39.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.33. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.Hinge Health's revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. On average, equities research analysts predict that Hinge Health Inc. will post 1.33 EPS for the current year.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds have recently made changes to their positions in HNGE. Janney Montgomery Scott LLC increased its position in Hinge Health by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company's stock worth $362,000 after purchasing an additional 300 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock valued at $25,000 after purchasing an additional 336 shares during the period. Lazard Asset Management LLC boosted its position in shares of Hinge Health by 0.6% in the 1st quarter. Lazard Asset Management LLC now owns 63,705 shares of the company's stock worth $2,456,000 after purchasing an additional 386 shares during the last quarter. First Horizon Corp grew its stake in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company's stock worth $40,000 after purchasing an additional 531 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter valued at approximately $26,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Hinge Health from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday. Canaccord Genuity Group upped their target price on shares of Hinge Health from $65.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, June 15th. Barclays raised their price target on shares of Hinge Health from $62.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday, June 11th. Raymond James Financial lifted their price objective on Hinge Health from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, June 15th. Finally, Weiss Ratings raised Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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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