Hippo Holdings Inc. (NYSE:HIPO – Get Free Report) shot up 13.9% on Thursday . The stock traded as high as $21.36 and last traded at $21.36. 24,255 shares were traded during trading, a decline of 84% from the average session volume of 148,170 shares. The stock had previously closed at $18.75.
Analysts Set New Price Targets
Several analysts have commented on HIPO shares. Jefferies Financial Group lowered their price target on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. 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 report on Monday, August 19th.
Check Out Our Latest Research Report on HIPO
Hippo Trading Up 21.2 %
Hippo (NYSE:HIPO – Get Free Report) last announced its quarterly 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 analyst estimates 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 last year, the firm earned ($4.61) earnings per share. As a group, research analysts forecast that Hippo Holdings Inc. will post -4.6 earnings per share for the current year.
Insider Transactions at Hippo
In related news, Chairman Assaf Wand sold 12,250 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Assaf Wand sold 12,250 shares of the firm’s 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 owns 548,064 shares in the company, valued at $8,873,156.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Yuval Harry sold 2,958 shares of Hippo stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total value of $54,693.42. Following the transaction, the executive now owns 104,247 shares in the company, valued at approximately $1,927,527.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,627 shares of company stock worth $278,762. 11.37% of the stock is currently owned by insiders.
Institutional Trading of Hippo
Several large investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC raised its holdings in shares of Hippo by 79.4% during the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock worth $5,962,000 after acquiring an additional 144,459 shares in the last quarter. Vanguard Group Inc. grew 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 buying an additional 45,058 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Hippo in the second quarter worth approximately $629,000. Bank of New York Mellon Corp raised its position in Hippo by 99.2% during the second 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 in the last quarter. Finally, PEAK6 Investments LLC acquired a new stake in Hippo in the first quarter valued at approximately $277,000. 43.01% of the stock is owned by institutional investors and hedge funds.
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.
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