Hippo Holdings Inc. (NYSE:HIPO) Position Decreased by Westerly Capital Management LLC

Westerly Capital Management LLC cut its stake in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 364,215 shares of the company's stock after selling 212,785 shares during the quarter. Hippo accounts for about 4.5% of Westerly Capital Management LLC's portfolio, making the stock its 6th biggest position. Westerly Capital Management LLC owned approximately 1.50% of Hippo worth $9,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in shares of Hippo during the 4th quarter worth approximately $200,000. EntryPoint Capital LLC purchased a new stake in shares of Hippo during the fourth quarter valued at approximately $204,000. Jump Financial LLC bought a new stake in Hippo during the fourth quarter worth $311,000. Wells Fargo & Company MN boosted its position in Hippo by 29.2% in the fourth quarter. Wells Fargo & Company MN now owns 12,216 shares of the company's stock worth $327,000 after purchasing an additional 2,759 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position 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 last quarter. Institutional investors own 43.01% of the company's stock.

Insider Activity at Hippo

In other news, insider Michael Stienstra sold 2,329 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $30.02, for a total transaction of $69,916.58. Following the sale, the insider now directly owns 59,648 shares in the company, valued at $1,790,632.96. This represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Assaf Wand sold 12,250 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $26.76, for a total transaction of $327,810.00. Following the completion of the transaction, the chairman now owns 499,064 shares of the company's stock, valued at $13,354,952.64. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,975 shares of company stock worth $1,387,189. 11.37% of the stock is owned by corporate insiders.

Hippo Stock Performance

NYSE:HIPO traded up $1.17 during trading hours on Friday, reaching $24.30. The stock had a trading volume of 134,051 shares, compared to its average volume of 162,828. The stock has a market cap of $609.49 million, a P/E ratio of -4.66 and a beta of 1.49. The stock has a 50 day simple moving average of $25.54 and a 200 day simple moving average of $26.50. Hippo Holdings Inc. has a 12-month low of $14.58 and a 12-month high of $35.44.

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

Analysts Set New Price Targets

A number of research firms have recently commented on HIPO. Jefferies Financial Group lowered their target price on Hippo from $43.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Hippo from $24.00 to $26.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 22nd.

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.