Hippo (NYSE:HIPO) Trading 13.9% Higher – Time to Buy?

Shares of Hippo Holdings Inc. (NYSE:HIPO) were up 13.9% during mid-day trading on Thursday . The company traded as high as $21.36 and last traded at $21.36. Approximately 24,255 shares traded hands during trading, a decline of 84% from the average daily volume of 148,170 shares. The stock had previously closed at $18.75.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, August 19th. Jefferies Financial Group lowered their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th.

Hippo Stock Performance

The firm has a fifty day simple moving average of $18.48 and a 200 day simple moving average of $18.15. The company has a market capitalization of $533.04 million, a PE ratio of -3.01 and a beta of 1.34.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.16). The firm had revenue of $89.60 million for the quarter, compared to the consensus estimate of $85.40 million. Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. During the same period in the previous year, the company posted ($4.61) EPS. Research analysts expect that Hippo Holdings Inc. will post -4.6 EPS for the current fiscal year.

Insider Buying and Selling at Hippo

In related news, CRO Yuval Harry sold 2,958 shares of Hippo stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total transaction of $54,693.42. Following the transaction, the executive now directly owns 104,247 shares of the company’s stock, valued at $1,927,527.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CRO Yuval Harry sold 2,958 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.49, for a total transaction of $54,693.42. Following the completion of the sale, the executive now directly owns 104,247 shares in the company, valued at $1,927,527.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Assaf Wand sold 12,250 shares of Hippo 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 completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,627 shares of company stock valued at $278,762. Company insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Hippo by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,328 shares of the company’s stock valued at $427,000 after purchasing an additional 801 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Hippo by 28.2% during the second quarter. American Century Companies Inc. now owns 25,453 shares of the company’s stock valued at $438,000 after buying an additional 5,592 shares during the last quarter. Steamboat Capital Partners LLC acquired a new position in shares of Hippo in the 1st quarter valued at $158,000. SG Americas Securities LLC purchased a new position in Hippo in the 3rd quarter worth $174,000. Finally, AQR Capital Management LLC acquired a new stake in Hippo during the 2nd quarter worth about $194,000. Hedge funds and other 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.