Hinge Health Inc. $HNGE Shares Sold by Insight Holdings Group LLC

Insight Holdings Group LLC cut its holdings in Hinge Health Inc. (NYSE:HNGE) by 15.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,375,164 shares of the company’s stock after selling 1,654,440 shares during the quarter. Hinge Health makes up about 32.6% of Insight Holdings Group LLC’s investment portfolio, making the stock its largest position. Insight Holdings Group LLC owned about 0.12% of Hinge Health worth $435,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares during the last quarter. First Horizon Corp lifted its stake in shares of Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares during the last quarter. High Point Wealth Management LLC acquired a new stake in shares of Hinge Health in the fourth quarter worth $46,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Hinge Health in the third quarter worth $49,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock worth $54,000 after buying an additional 870 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James Financial boosted their price objective on shares of Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup restated an “outperform” rating on shares of Hinge Health in a research note on Wednesday, May 6th. Citizens Jmp boosted their price objective on shares of Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, KeyCorp upped their target price 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. Two 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 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 price target of $75.13.

Hinge Health Price Performance

NYSE:HNGE opened at $67.07 on Thursday. The stock has a market cap of $5.19 billion and a P/E ratio of -5.44. Hinge Health Inc. has a one year low of $30.08 and a one year high of $70.72. The company has a fifty day moving average price of $52.21 and a 200 day moving average price of $46.39.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.12 by $0.33. The firm 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%. Hinge Health’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 earnings per share. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.33 EPS for the current year.

Insider Activity at Hinge Health

In related news, President James Pursley sold 16,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $860,640.00. Following the completion of the transaction, the president directly owned 780,223 shares in the company, valued at $41,968,195.17. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 104,544 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the completion of the sale, the chief executive officer directly owned 35,470 shares in the company, valued at $1,954,042.30. This trade represents a 74.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 554,600 shares of company stock worth $29,859,068 in the last ninety days. 18.92% of the stock is currently owned by insiders.

Hinge Health 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.