Insider Selling: Hippo (NYSE:HIPO) CFO Sells 5,177 Shares of Stock

Key Points

• Guy Zeltser, CFO of Hippo Holdings Inc. (NYSE:HIPO), sold 5,177 shares at an average price of $37.48, representing a 6.47% decrease in his ownership.
• Hippo reported a $0.65 earnings per share for the last quarter, exceeding expectations and achieving a revenue of $117.30 million.
• Several analysts have upgraded their target prices for Hippo, with B. Riley raising it from $35.00 to $41.00 and JMP Securities from $35.00 to $40.00, signaling a positive outlook for the stock.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CFO Guy Zeltser sold 5,177 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $37.48, for a total value of $194,033.96. Following the sale, the chief financial officer owned 74,861 shares of the company's stock, valued at approximately $2,805,790.28. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hippo Stock Down 2.2%

NYSE:HIPO traded down $0.84 on Monday, hitting $36.50. The stock had a trading volume of 199,229 shares, compared to its average volume of 187,212. The stock has a market cap of $913.60 million, a P/E ratio of -74.49 and a beta of 1.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. The firm's fifty day simple moving average is $31.27 and its two-hundred day simple moving average is $27.40. Hippo Holdings Inc. has a 1 year low of $15.74 and a 1 year high of $38.98.

Hippo (NYSE:HIPO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of ($0.65) by $1.30. The company had revenue of $117.30 million for 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%. Analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. B. Riley raised their price objective on Hippo from $35.00 to $41.00 and gave the stock a "buy" 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, JMP Securities boosted their target price on shares of Hippo from $35.00 to $40.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Hippo presently has an average rating of "Moderate Buy" and an average price target of $34.25.

Institutional Investors Weigh In On Hippo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIPO. Vanguard Group Inc. boosted its position in Hippo by 2.4% during the first quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company's stock valued at $26,697,000 after purchasing an additional 24,253 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of Hippo in the second quarter valued at $13,665,000. Westerly Capital Management LLC increased its stake in Hippo by 30.4% in the 2nd quarter. Westerly Capital Management LLC now owns 326,000 shares of the company's stock worth $9,105,000 after acquiring an additional 76,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Hippo by 30.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company's stock valued at $5,823,000 after acquiring an additional 48,677 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Hippo by 1.4% in the 4th quarter. Northern Trust Corp now owns 161,253 shares of the company's stock worth $4,317,000 after acquiring an additional 2,232 shares in the last quarter. Institutional investors and hedge funds 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.