Hippo (NYSE:HIPO) Shares Down 8.1% – Should You Sell?

Hippo Holdings Inc. (NYSE:HIPO) fell 8.1% during mid-day trading on Friday . The company traded as low as $19.83 and last traded at $20.37. 33,669 shares were traded during mid-day trading, a decline of 78% from the average session volume of 149,832 shares. The stock had previously closed at $22.17.

Analyst Ratings Changes

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

Hippo Stock Down 3.6 %

The firm’s 50-day simple moving average is $18.48 and its 200-day simple moving average is $18.13. The firm has a market capitalization of $532.54 million, a PE ratio of -3.01 and a beta of 1.25.

Hippo (NYSE:HIPO) last announced its earnings results on Thursday, August 8th. The company reported ($1.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.16). The business had revenue of $89.60 million for the quarter, compared to the consensus estimate of $85.40 million. Hippo had a negative net margin of 57.80% and a negative return on equity of 46.46%. During the same period in the prior year, the business posted ($4.61) EPS. On average, equities research analysts forecast that Hippo Holdings Inc. will post -4.6 earnings per share for the current year.

Insider Buying and Selling at Hippo

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hood River Capital Management LLC grew its position in shares of Hippo by 79.4% in the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock valued at $5,962,000 after purchasing an additional 144,459 shares during the period. Vanguard Group Inc. raised its stake in shares of Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after acquiring an additional 45,058 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of Hippo in the 2nd quarter valued at approximately $629,000. Bank of New York Mellon Corp raised its stake in shares of 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 acquiring an additional 30,418 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Hippo in the 2nd quarter valued at approximately $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.