Sphera Management Technology Funds Ltd acquired a new stake in Hippo Holdings Inc. (NYSE:HIPO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,000 shares of the company's stock, valued at approximately $1,017,000. Sphera Management Technology Funds Ltd owned 0.16% of Hippo at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Two Sigma Advisers LP purchased a new position in shares of Hippo in the fourth quarter valued at approximately $200,000. Two Sigma Investments LP purchased a new position in shares of Hippo in the fourth quarter valued at approximately $259,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Hippo in the fourth quarter valued at approximately $296,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Hippo by 33.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 68,485 shares of the company's stock valued at $1,833,000 after purchasing an additional 17,286 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Hippo by 61.7% in the fourth quarter. Deutsche Bank AG now owns 17,130 shares of the company's stock valued at $459,000 after purchasing an additional 6,535 shares during the period. Hedge funds and other institutional investors own 43.01% of the company's stock.
Hippo Stock Performance
HIPO stock traded up $0.19 during midday trading on Friday, reaching $22.40. 108,934 shares of the company were exchanged, compared to its average volume of 169,930. Hippo Holdings Inc. has a 1-year low of $14.58 and a 1-year high of $35.44. The stock's 50-day simple moving average is $23.85 and its 200 day simple moving average is $26.73. The company has a market cap of $563.52 million, a price-to-earnings ratio of -4.30 and a beta of 1.49.
Hippo (NYSE:HIPO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.91) earnings per share for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.50). Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. The company had revenue of $110.30 million for the quarter, compared to analyst estimates of $106.70 million. On average, research analysts anticipate that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have recently commented on HIPO. Keefe, Bruyette & Woods raised their price objective on shares of Hippo from $24.00 to $26.00 and gave the company a "market perform" rating in a research note on Tuesday, April 22nd. Jefferies Financial Group reduced their target price on shares of Hippo from $43.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, April 11th.
Read Our Latest Research Report on Hippo
Insider Activity
In other Hippo news, Chairman Assaf Wand sold 12,250 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $28.90, for a total value of $354,025.00. Following the transaction, the chairman now directly owns 486,814 shares of the company's stock, valued at approximately $14,068,924.60. The trade was a 2.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.37% of the company's stock.
About Hippo
(
Free Report)
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.
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