Exzeo Group (NYSE:XZO) Shares Gap Up Following Insider Buying Activity

Key Points

• Exzeo shares gapped up to an opening price of $16.24 after CEO Paresh Patel bought a total of 4,000 shares (2,000 on Apr 8 at $15.05 and 2,000 on Apr 10 at $15.38) under a Rule 10b5-1 plan, bringing his direct stake to about 1,608,013 shares.
• Brokerage coverage is positive with a Moderate Buy consensus (three Buys, two Holds) and an average price target of $26.00, and the stock was up roughly 4.8% on the news.
• Exzeo recently beat estimates with Q4 EPS of $0.25 and revenue of $53.32 million versus $41.5 million expected; the company has a market cap of $1.47 billion and a P/E of 32.27.

Exzeo Group, Inc. (NYSE:XZO - Get Free Report)'s stock price gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $15.40, but opened at $16.24. Exzeo Group shares last traded at $16.1350, with a volume of 16,289 shares trading hands.

Specifically, CEO Paresh Patel bought 2,000 shares of the business's stock in a transaction on Friday, April 10th. The shares were bought at an average cost of $15.38 per share, with a total value of $30,760.00. Following the purchase, the chief executive officer directly owned 1,608,013 shares in the company, valued at $24,731,239.94. This trade represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paresh Patel bought 2,000 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were purchased at an average cost of $15.05 per share, for a total transaction of $30,100.00. Following the completion of the purchase, the chief executive officer owned 1,606,013 shares in the company, valued at approximately $24,170,495.65. This trade represents a 0.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several brokerages have issued reports on XZO. Wall Street Zen raised shares of Exzeo Group from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. Weiss Ratings began coverage on shares of Exzeo Group in a research note on Monday, February 2nd. They set a "hold (c-)" rating on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $26.00.

Exzeo Group Stock Up 4.8%

The company has a market capitalization of $1.47 billion and a price-to-earnings ratio of 32.27. The firm has a 50 day simple moving average of $15.52.

Exzeo Group (NYSE:XZO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.12. The company had revenue of $53.32 million during the quarter, compared to analyst estimates of $41.50 million.

Hedge Funds Weigh In On Exzeo Group

Hedge funds have recently bought and sold shares of the business. Ionic Capital Management LLC acquired a new position in Exzeo Group during the fourth quarter worth $328,000. Verition Fund Management LLC acquired a new position in Exzeo Group during the fourth quarter worth $532,000. HRT Financial LP acquired a new position in Exzeo Group during the fourth quarter worth $754,000. Jane Street Group LLC acquired a new position in Exzeo Group during the fourth quarter worth $1,187,000. Finally, Legato Capital Management LLC acquired a new position in Exzeo Group during the fourth quarter worth $1,475,000.

About Exzeo Group

Exzeo provides turnkey insurance technology and operations solutions to insurance carriers and their agents based on a proprietary platform of purpose-built software and data analytics applications that are specifically designed for the property and casualty, or P&C, insurance ecosystem. Exzeo's Insurance-as-a-Service (IaaS) platform, which we refer to as the “Exzeo Platform,” currently includes nine highly configurable software and data analytics applications that are purpose-built to serve insurance companies and other customers in the insurance value chain.

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