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

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 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 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 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 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 opened at $85.14 on Thursday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $86.66. The company’s fifty day moving average is $59.32 and its 200 day moving average is $48.25. The stock has a market capitalization of $6.59 billion, a PE ratio of -6.90 and a beta of 1.10.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share 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 business’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, research analysts forecast that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Institutional Trading of Hinge Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in shares of Hinge Health by 35.2% during the first quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock valued at $738,000 after purchasing an additional 4,986 shares during the period. Estuary Capital Management LP bought a new stake in Hinge Health during the 1st quarter valued at about $15,201,000. Lazard Asset Management LLC raised its stake in shares of Hinge Health by 0.6% during the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after acquiring an additional 386 shares in the last quarter. Entropy Technologies LP raised its position in Hinge Health by 28.1% during the 1st quarter. Entropy Technologies LP now owns 11,749 shares of the company’s stock valued at $453,000 after purchasing an additional 2,579 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after buying an additional 806,007 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup reissued an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Canaccord Genuity Group lifted their price objective on shares of Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Truist Financial boosted their price objective on shares of Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Needham & Company LLC raised their target price 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. Finally, Evercore reiterated an “outperform” rating and set a $45.00 price target on shares of Hinge Health in a report on Wednesday, April 8th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.