Hinge Health (NYSE:HNGE) Major Shareholder Sells $15,921,109.05 in Stock

by · The Cerbat Gem

Hinge Health Inc. (NYSE:HNGE – Get Free Report) major shareholder Insight Holdings Group, Llc sold 224,399 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $70.95, for a total transaction of $15,921,109.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • 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 value 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 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 value of $4,614,279.16.

Hinge Health Trading Up 4.9%

Hinge Health stock opened at $78.84 on Friday. The stock has a 50 day moving average of $56.92 and a two-hundred day moving average of $47.55. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $79.26. The stock has a market capitalization of $6.10 billion and a price-to-earnings ratio of -6.39.

Hinge Health (NYSE:HNGE – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $182.31 million for the quarter. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. Equities analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. KeyCorp boosted their price objective on shares of Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Wall Street Zen cut shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC increased 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.80.

View Our Latest Research Report on Hinge Health

Institutional Investors Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently bought and sold shares of HNGE. BIT Capital GmbH boosted its position in shares of Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after purchasing an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $121,027,000 after purchasing an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC lifted its stake 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 period. Millennium Management LLC lifted its stake in shares of Hinge Health by 225.0% in 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 during the period. Finally, Braidwell LP boosted its holdings in Hinge Health by 43.3% during the fourth quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock worth $60,600,000 after buying an additional 394,147 shares in the last quarter.

About Hinge Health

(Get Free Report)

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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