PDT Partners LLC Invests $485,000 in Hippo Holdings Inc. $HIPO

Key Points

• PDT Partners LLC acquired approximately 18,956 shares of Hippo Holdings Inc. for about $485,000, increasing its ownership to 0.08% of the company.
• Insiders, including CEO Torben Ostergaard, sold a total of 519,028 shares in the last 90 days, indicating a decrease in ownership among major shareholders.
• Analysts have raised their price targets for Hippo, with JMP Securities and B. Riley setting new targets at $40.00 and $41.00 respectively, reflecting positive market sentiment.

PDT Partners LLC bought a new stake in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,956 shares of the company's stock, valued at approximately $485,000. PDT Partners LLC owned 0.08% of Hippo at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HIPO. BNP Paribas Financial Markets bought a new position in shares of Hippo in the fourth quarter worth approximately $118,000. The Manufacturers Life Insurance Company bought a new position in shares of Hippo in the fourth quarter worth approximately $200,000. Two Sigma Advisers LP bought a new position in shares of Hippo in the fourth quarter worth approximately $200,000. Two Sigma Investments LP bought a new position in shares of Hippo in the fourth quarter worth approximately $259,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Hippo in the fourth quarter worth approximately $296,000. 43.01% of the stock is currently owned by institutional investors.

Hippo Price Performance

Hippo stock traded down $0.76 during mid-day trading on Wednesday, reaching $36.21. 27,558 shares of the company's stock traded hands, compared to its average volume of 209,449. Hippo Holdings Inc. has a 12-month low of $15.74 and a 12-month high of $37.90. The company has a market cap of $906.24 million, a price-to-earnings ratio of -73.94 and a beta of 1.55. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $29.59 and a two-hundred day moving average of $26.88.

Hippo (NYSE:HIPO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of ($0.65) by $1.30. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.13%. The business had revenue of $117.30 million for the quarter, compared to the consensus estimate of $116.00 million. Equities analysts forecast that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Hippo from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. B. Riley upped their price target on shares of Hippo from $35.00 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, JMP Securities upped their target price on shares of Hippo from $35.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.25.

Insider Activity

In other news, major shareholder Len Fw Investor, Llc sold 514,309 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $28.17, for a total value of $14,488,084.53. Following the sale, the insider owned 2,476,418 shares of the company's stock, valued at approximately $69,760,695.06. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Mccathron sold 2,275 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.00, for a total transaction of $77,350.00. Following the completion of the sale, the chief executive officer directly owned 473,113 shares in the company, valued at approximately $16,085,842. This represents a 0.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 519,028 shares of company stock valued at $14,638,632. 10.80% of the stock is currently owned by company insiders.

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.