Hippo Holdings Inc. (NYSE:HIPO) Shares Sold by Westerly Capital Management LLC

Westerly Capital Management LLC trimmed its stake in shares of Hippo Holdings Inc. (NYSE:HIPO) by 36.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,215 shares of the company’s stock after selling 212,785 shares during the quarter. Hippo makes up 4.5% of Westerly Capital Management LLC’s portfolio, making the stock its 6th biggest position. Westerly Capital Management LLC owned 1.50% of Hippo worth $9,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in HIPO. The Manufacturers Life Insurance Company bought a new position in shares of Hippo in the 4th quarter worth about $200,000. EntryPoint Capital LLC bought a new position in shares of Hippo in the 4th quarter worth about $204,000. Jump Financial LLC bought a new position in shares of Hippo in the 4th quarter worth about $311,000. Wells Fargo & Company MN lifted its position in shares of Hippo by 29.2% in the 4th quarter. Wells Fargo & Company MN now owns 12,216 shares of the company’s stock worth $327,000 after buying an additional 2,759 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Hippo by 13.3% in the 4th quarter. MetLife Investment Management LLC now owns 13,394 shares of the company’s stock worth $359,000 after buying an additional 1,573 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors.

Insider Transactions at Hippo

In related news, CEO Torben Ostergaard sold 21,146 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $30.05, for a total transaction of $635,437.30. Following the completion of the sale, the chief executive officer now owns 74,120 shares in the company, valued at $2,227,306. This represents a 22.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Assaf Wand sold 12,250 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $28.90, for a total value of $354,025.00. Following the completion of the sale, the chairman now directly owns 486,814 shares in the company, valued at $14,068,924.60. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,975 shares of company stock valued at $1,387,189. 11.37% of the stock is owned by insiders.

Hippo Stock Down 0.9 %

HIPO opened at $24.04 on Wednesday. The stock has a fifty day moving average of $25.76 and a 200-day moving average of $26.40. The firm has a market capitalization of $602.97 million, a P/E ratio of -4.61 and a beta of 1.49. Hippo Holdings Inc. has a 12-month low of $14.58 and a 12-month high of $35.44.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.08. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. The business had revenue of $102.00 million for the quarter, compared to the consensus estimate of $97.83 million. On average, analysts expect that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Hippo from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 22nd. Jefferies Financial Group dropped their target price on shares of Hippo from $43.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, April 11th.

Hippo 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.