Hippo (NYSE:HIPO) Shares Down 7.1% Following Insider Selling

Shares of Hippo Holdings Inc. (NYSE:HIPO) fell 7.1% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $27.55 and last traded at $27.55. 48,676 shares were traded during trading, a decline of 69% from the average session volume of 155,032 shares. The stock had previously closed at $29.66.

Specifically, CEO Richard Mccathron sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $25.55, for a total value of $255,500.00. Following the completion of the transaction, the chief executive officer now directly owns 366,146 shares in the company, valued at approximately $9,355,030.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anirudh Badia sold 2,552 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total transaction of $62,498.48. Following the completion of the sale, the chief accounting officer now directly owns 102,315 shares in the company, valued at approximately $2,505,694.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HIPO. Keefe, Bruyette & Woods lifted their price objective on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Monday, August 19th. Jefferies Financial Group decreased their price objective 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 Trading Down 0.4 %

The company has a market cap of $670.35 million, a price-to-earnings ratio of -5.16 and a beta of 1.26. The stock’s 50-day moving average is $19.44 and its 200-day moving average is $18.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC boosted its stake in Hippo by 79.4% during the 1st 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 last quarter. Vanguard Group Inc. grew its holdings in Hippo by 6.3% during the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after buying an additional 45,058 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Hippo in the 2nd quarter valued at $629,000. Bank of New York Mellon Corp lifted its stake in Hippo by 99.2% during 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 in the last quarter. Finally, PEAK6 Investments LLC purchased a new position in Hippo during the 1st quarter worth $277,000. Institutional investors 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.