Hippo (NYSE:HIPO) Shares Gap Down – Time to Sell?
by Michael Walen · The Markets DailyHippo Holdings Inc. (NYSE:HIPO – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $29.10, but opened at $28.24. Hippo shares last traded at $28.36, with a volume of 53,701 shares traded.
Analyst Upgrades and Downgrades
HIPO has been the topic of a number of research reports. Jefferies Financial Group cut their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, August 19th.
View Our Latest Stock Analysis on HIPO
Hippo Price Performance
The firm has a fifty day moving average price of $20.21 and a 200 day moving average price of $18.59. The firm has a market capitalization of $701.32 million, a PE ratio of -5.59 and a beta of 1.26.
Insider Activity
In other news, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 approximately $8,873,156.16. This represents a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Anirudh Badia sold 2,552 shares of Hippo stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $24.49, for a total value of $62,498.48. Following the completion of the transaction, the chief accounting officer now owns 102,315 shares of the company’s stock, valued at approximately $2,505,694.35. The trade was a 2.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,657 shares of company stock worth $538,171 in the last three months. 11.37% of the stock is owned by insiders.
Institutional Investors Weigh In On Hippo
A number of hedge funds have recently modified their holdings of HIPO. Barclays PLC grew its stake in shares of Hippo by 276.5% in the third quarter. Barclays PLC now owns 25,816 shares of the company’s stock valued at $435,000 after buying an additional 18,960 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hippo by 6.3% in the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock worth $7,467,000 after acquiring an additional 26,085 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Hippo in the third quarter valued at approximately $174,000. State Street Corp raised its position in Hippo by 10.5% in the third quarter. State Street Corp now owns 377,537 shares of the company’s stock valued at $6,373,000 after purchasing an additional 35,743 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Hippo during the 3rd quarter worth approximately $864,000. Institutional investors and hedge funds own 43.01% of the company’s stock.
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.