Insider Selling: Hippo Holdings Inc. (NYSE:HIPO) Chairman Sells 12,250 Shares of Stock

Hippo Holdings Inc. (NYSE:HIPO) Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were 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 approximately $8,873,156.16. The sale was disclosed in a filing with the SEC, which is available at this link.

Hippo Stock Performance

Shares of HIPO stock traded down $0.16 on Thursday, hitting $17.13. 85,675 shares of the stock traded hands, compared to its average volume of 155,591. Hippo Holdings Inc. has a twelve month low of $6.64 and a twelve month high of $25.49. The firm’s 50-day moving average price is $18.26 and its two-hundred day moving average price is $18.36. The stock has a market capitalization of $426.88 million, a PE ratio of -1.70 and a beta of 1.35.

Hippo (NYSE:HIPO) last posted its earnings results on Thursday, August 8th. The company reported ($1.64) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.16). Hippo had a negative net margin of 57.80% and a negative return on equity of 46.46%. The firm had revenue of $89.60 million during the quarter, compared to analyst estimates of $85.40 million. During the same quarter in the previous year, the firm earned ($4.61) earnings per share. On average, equities research analysts anticipate that Hippo Holdings Inc. will post -4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their price target on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, August 19th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Hippo by 6.3% in the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after purchasing an additional 45,058 shares during the period. Hood River Capital Management LLC increased its position in shares of Hippo by 79.4% during the 1st quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock worth $5,962,000 after purchasing an additional 144,459 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Hippo by 99.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock valued at $1,050,000 after buying an additional 30,418 shares during the period. Dimensional Fund Advisors LP acquired a new position in Hippo in the second quarter valued at about $629,000. Finally, Rhumbline Advisers boosted its position in shares of Hippo by 93.7% during the 2nd quarter. Rhumbline Advisers now owns 28,738 shares of the company’s stock worth $494,000 after purchasing an additional 13,899 shares during the period. 43.01% of the stock is currently owned by institutional investors and hedge funds.

About Hippo

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.