Hippo (NYSE:HIPO) Trading Up 13.9% – What’s Next?

Hippo Holdings Inc. (NYSE:HIPO) shares traded up 13.9% on Thursday . The company traded as high as $21.36 and last traded at $21.36. 24,255 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 148,170 shares. The stock had previously closed at $18.75.

Analyst Ratings Changes

Several analysts have recently commented on HIPO shares. Jefferies Financial Group decreased their price objective on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price objective on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, August 19th.

Hippo Stock Down 3.5 %

The firm’s fifty day moving average price is $18.48 and its 200 day moving average price is $18.15. The stock has a market cap of $533.04 million, a PE ratio of -3.01 and a beta of 1.34.

Hippo (NYSE:HIPO) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.64) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.16). The company had revenue of $89.60 million during the quarter, compared to analysts’ expectations of $85.40 million. Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. During the same quarter in the previous year, the firm earned ($4.61) EPS. As a group, analysts anticipate that Hippo Holdings Inc. will post -4.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Hippo

In other news, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total transaction of $198,327.50. Following the sale, the chairman now directly owns 548,064 shares of the company’s stock, valued at $8,873,156.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hippo news, Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total value of $198,327.50. Following the completion of the transaction, the chairman now directly owns 548,064 shares of the company’s stock, valued at $8,873,156.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Yuval Harry sold 2,958 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total transaction of $54,693.42. Following the sale, the executive now owns 104,247 shares in the company, valued at $1,927,527.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,627 shares of company stock worth $278,762 in the last quarter. 11.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hippo

A number of institutional investors and hedge funds have recently modified their holdings of HIPO. Hood River Capital Management LLC lifted its position in Hippo by 79.4% in the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock worth $5,962,000 after buying an additional 144,459 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after acquiring an additional 45,058 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Hippo in the 2nd quarter worth about $629,000. Bank of New York Mellon Corp boosted its stake in shares of Hippo by 99.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock worth $1,050,000 after purchasing an additional 30,418 shares during the period. Finally, Squarepoint Ops LLC bought a new position in Hippo during the 2nd quarter valued at about $335,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Hippo Company Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.