Tenzing Global Management LLC Takes Position in Hippo Holdings Inc. $HIPO

Key Points

• Tenzing Global Management LLC acquired 100,000 shares of Hippo Holdings Inc., representing approximately $2.56 million and making Hippo its 16th largest investment.
• In recent transactions, Hippo's CEO Richard Mccathron sold 2,275 shares, while CEO Torben Ostergaard sold 2,444 shares, indicating ongoing insider trading activity.
• Research firms have upgraded Hippo's stock rating, with B. Riley raising its price target from $35 to $41, contributing to an average price target of $34.25 according to MarketBeat.

Tenzing Global Management LLC purchased a new position in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 100,000 shares of the company's stock, valued at approximately $2,556,000. Hippo comprises approximately 1.9% of Tenzing Global Management LLC's portfolio, making the stock its 16th largest position. Tenzing Global Management LLC owned about 0.40% of Hippo at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of HIPO. BNP Paribas Financial Markets bought a new stake in shares of Hippo during the fourth quarter worth $118,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Hippo in the fourth quarter valued at $200,000. Two Sigma Advisers LP acquired a new stake in shares of Hippo in the fourth quarter valued at $200,000. Two Sigma Investments LP acquired a new stake in shares of Hippo in the fourth quarter valued at $259,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Hippo in the fourth quarter valued at $296,000. Institutional investors own 43.01% of the company's stock.

Insider Activity at Hippo

In other news, CEO Richard Mccathron sold 2,725 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $34.12, for a total transaction of $92,977.00. Following the completion of the transaction, the chief executive officer directly owned 470,388 shares in the company, valued at approximately $16,049,638.56. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Len Fw Investor, Llc sold 514,309 shares of Hippo stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $28.17, for a total transaction of $14,488,084.53. Following the sale, the insider owned 2,476,418 shares in the company, valued at approximately $69,760,695.06. This represents a 17.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 519,309 shares of company stock worth $14,658,412 over the last ninety days. Insiders own 10.80% of the company's stock.

Hippo Trading Down 0.6%

NYSE:HIPO traded down $0.23 during trading hours on Friday, hitting $36.82. The stock had a trading volume of 70,286 shares, compared to its average volume of 209,592. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. Hippo Holdings Inc. has a one year low of $15.74 and a one year high of $37.90. The business's 50 day moving average is $29.93 and its 200-day moving average is $27.01. The company has a market cap of $921.48 million, a price-to-earnings ratio of -75.13 and a beta of 1.55.

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, topping analysts' consensus estimates of ($0.65) by $1.30. The firm had revenue of $117.30 million during the quarter, compared to analyst estimates of $116.00 million. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.13%. Sell-side analysts anticipate that Hippo Holdings Inc. will post -3.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HIPO. JMP Securities raised their target price on Hippo from $35.00 to $40.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Hippo from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Finally, B. Riley raised their target price on Hippo from $35.00 to $41.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.25.

Hippo 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.