Hippo Holdings Inc. (NYSE:HIPO) Stake Reduced by Westerly Capital Management LLC

Westerly Capital Management LLC trimmed its position in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 364,215 shares of the company's stock after selling 212,785 shares during the period. Hippo comprises 4.5% of Westerly Capital Management LLC's portfolio, making the stock its 6th largest position. Westerly Capital Management LLC owned 1.50% of Hippo worth $9,750,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new position in Hippo in the fourth quarter worth about $200,000. EntryPoint Capital LLC purchased a new position in shares of Hippo in the 4th quarter valued at approximately $204,000. Jump Financial LLC bought a new stake in shares of Hippo during the fourth quarter valued at approximately $311,000. Wells Fargo & Company MN boosted its position in shares of Hippo by 29.2% during the fourth quarter. Wells Fargo & Company MN now owns 12,216 shares of the company's stock valued at $327,000 after purchasing an additional 2,759 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in Hippo by 13.3% in the fourth quarter. MetLife Investment Management LLC now owns 13,394 shares of the company's stock worth $359,000 after purchasing an additional 1,573 shares during the period. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Hippo Stock Down 0.6 %

Shares of NYSE:HIPO traded down $0.14 on Monday, hitting $24.20. 15,665 shares of the company traded hands, compared to its average volume of 162,247. The stock has a 50 day simple moving average of $25.54 and a 200-day simple moving average of $26.55. The company has a market cap of $606.86 million, a PE ratio of -4.64 and a beta of 1.49. Hippo Holdings Inc. has a 52 week low of $14.58 and a 52 week high of $35.44.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.08. The firm had revenue of $102.00 million during the quarter, compared to analyst estimates of $97.83 million. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. As a group, sell-side analysts anticipate that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HIPO shares. 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 research report on Friday, April 11th. Keefe, Bruyette & Woods lifted their target price on shares of Hippo from $24.00 to $26.00 and gave the company a "market perform" rating in a report on Tuesday, April 22nd.

Insider Activity

In other Hippo news, CEO Torben Ostergaard sold 21,146 shares of Hippo stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $30.05, for a total value of $635,437.30. Following the sale, the chief executive officer now directly owns 74,120 shares in the company, valued at approximately $2,227,306. The trade was a 22.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Stienstra sold 2,329 shares of Hippo stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $30.02, for a total value of $69,916.58. Following the completion of the sale, the insider now directly owns 59,648 shares in the company, valued at $1,790,632.96. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,725 shares of company stock valued at $1,059,379 in the last 90 days. Company insiders own 11.37% of the company's stock.

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.