Hippo (NYSE:HIPO) Trading Up 4.3% on Insider Buying Activity

Hippo Holdings Inc (NYSE:HIPO)’s share price was up 4.3% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $3.63 and last traded at $3.61. Approximately 15,396 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 1,497,104 shares. The stock had previously closed at $3.46.

Specifically, insider Assaf Wand acquired 40,650 shares of the firm’s stock in a transaction dated Friday, November 19th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $150,405.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several brokerages have recently issued reports on HIPO. The Goldman Sachs Group began coverage on Hippo in a research note on Tuesday, October 12th. They issued a “neutral” rating and a $5.40 price objective for the company. Jefferies Financial Group assumed coverage on Hippo in a research note on Thursday, November 18th. They issued a “buy” rating and a $8.00 price objective for the company.

The business has a 50 day moving average of $4.54.

Hippo (NYSE:HIPO) last posted its earnings results on Wednesday, November 10th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01).

Hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC purchased a new stake in Hippo during the third quarter worth approximately $26,000. First Republic Investment Management Inc. purchased a new stake in Hippo during the third quarter worth approximately $57,000. Psagot Value Holdings Ltd. purchased a new stake in Hippo during the third quarter worth approximately $58,000. Two Sigma Securities LLC purchased a new stake in Hippo in the third quarter valued at approximately $58,000. Finally, AJ Wealth Strategies LLC purchased a new stake in Hippo in the third quarter valued at approximately $70,000. Hedge funds and other institutional investors own 23.39% of the company’s stock.

About Hippo (NYSE:HIPO)

Hippo Holdings Inc offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. The company is a licensed property casualty insurance agent with products underwritten by various insurance companies. It operates principally in Austin and Dallas, Texas.

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