Hippo (NYSE:HIPO) Stock Price Down 6.8% – Time to Sell?

Shares of Hippo Holdings Inc. (NYSE:HIPO) were down 6.8% during trading on Tuesday . The company traded as low as $25.89 and last traded at $25.93. Approximately 54,510 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 175,177 shares. The stock had previously closed at $27.84.

Wall Street Analysts Forecast Growth

Separately, JMP Securities upped their target price on shares of Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd.

Hippo Stock Performance

The company’s 50-day simple moving average is $28.08 and its two-hundred day simple moving average is $24.98. The firm has a market cap of $660.91 million, a PE ratio of -5.06 and a beta of 1.50.

Hippo (NYSE:HIPO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $97.83 million. On average, analysts expect that Hippo Holdings Inc. will post -3.63 EPS for the current year.

Insider Buying and Selling at Hippo

In related news, CEO Torben Ostergaard sold 3,022 shares of Hippo stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $25.77, for a total value of $77,876.94. Following the completion of the sale, the chief executive officer now directly owns 98,288 shares in the company, valued at approximately $2,532,881.76. This trade represents a 2.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $26.02, for a total transaction of $318,745.00. Following the completion of the sale, the chairman now owns 511,314 shares in the company, valued at $13,304,390.28. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,291 shares of company stock valued at $2,518,780. Corporate insiders own 11.37% of the company’s stock.

Institutional Trading of Hippo

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in shares of Hippo by 13.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company’s stock valued at $314,000 after purchasing an additional 1,400 shares during the period. Sphera Management Technology Funds Ltd purchased a new stake in shares of Hippo during the fourth quarter worth about $1,017,000. Two Sigma Advisers LP bought a new position in Hippo in the 4th quarter worth approximately $200,000. Two Sigma Investments LP purchased a new position in shares of Hippo during the fourth quarter valued at about $259,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Hippo in the fourth quarter valued at $296,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

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.