Hippo (NYSE:HIPO) CEO Torben Ostergaard Sells 1,169 Shares of Stock

Key Points

• Hippo CEO Torben Ostergaard sold 1,169 shares at an average price of $35.03, generating approximately $40,950. Following the transaction, he retained 60,655 shares, a 1.89% reduction in his ownership.
• Hippo shares traded at about $35.30, with a market capitalization of roughly $931.6 million and a 52-week range of $24.08 to $38.72. The company recently reported quarterly EPS of $0.79, substantially above analysts’ expected loss of $0.17, while revenue also exceeded estimates.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $38.25; institutional investors own approximately 43.01% of the stock.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Torben Ostergaard sold 1,169 shares of the business's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $35.03, for a total value of $40,950.07. Following the transaction, the chief executive officer owned 60,655 shares in the company, valued at $2,124,744.65. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Torben Ostergaard also recently made the following trade(s):

• On Monday, August 17th, Torben Ostergaard sold 1,169 shares of Hippo stock. The shares were sold at an average price of $33.00, for a total value of $38,577.00.

Hippo Stock Performance

Shares of HIPO stock traded up $0.04 during mid-day trading on Friday, reaching $35.30. The stock had a trading volume of 157,183 shares, compared to its average volume of 149,382. Hippo Holdings Inc. has a one year low of $24.08 and a one year high of $38.72. The firm has a market cap of $931.57 million, a PE ratio of 7.59 and a beta of 1.55. The firm's 50 day simple moving average is $32.60 and its 200 day simple moving average is $29.24. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10.

Hippo (NYSE:HIPO - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.96. The business had revenue of $144.70 million for the quarter, compared to analysts' expectations of $137.44 million. Hippo had a return on equity of 10.68% and a net margin of 23.92%. On average, analysts forecast that Hippo Holdings Inc. will post 1.50 EPS for the current year.

Hedge Funds Weigh In On Hippo

Several institutional investors have recently added to or reduced their stakes in HIPO. BlackRock Inc. grew its stake in Hippo by 17.8% during the second quarter. BlackRock Inc. now owns 1,498,306 shares of the company's stock worth $42,342,000 after buying an additional 226,533 shares during the last quarter. AWM Investment Company Inc. acquired a new position in shares of Hippo in the 2nd quarter worth approximately $2,826,000. Citadel Advisors LLC boosted its holdings in shares of Hippo by 90.5% in the 2nd quarter. Citadel Advisors LLC now owns 140,734 shares of the company's stock worth $3,977,000 after acquiring an additional 66,863 shares in the last quarter. State Street Corp grew its position in Hippo by 9.1% during the 2nd quarter. State Street Corp now owns 443,716 shares of the company's stock worth $12,539,000 after acquiring an additional 37,097 shares during the last quarter. Finally, Sei Investments Co. grew its position in Hippo by 25.4% during the 1st quarter. Sei Investments Co. now owns 161,440 shares of the company's stock worth $4,207,000 after acquiring an additional 32,728 shares during the last quarter. 43.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Zacks Research cut shares of Hippo from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 2nd. Keefe, Bruyette & Woods increased their target price on Hippo from $33.00 to $35.00 and gave the stock a "market perform" rating in a report on Thursday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Hippo in a report on Friday, July 31st. Finally, B. Riley Financial reaffirmed a "buy" rating and issued a $41.50 price target (up from $38.00) on shares of Hippo in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Hippo currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.25.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused property and casualty insurance company that provides homeowners insurance and related services in the United States. The company combines digital insurance tools, data analytics and home-monitoring technology to simplify the process of obtaining coverage and managing a policy.

Hippo's offerings are centered on homeowners insurance, including coverage for residential property, personal belongings, liability and additional living expenses. Through its home protection platform, the company also provides resources and services intended to help customers identify and address potential risks before they lead to costly losses, such as water leaks, fire hazards and other property-related issues.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo became a publicly traded company in 2021 through a business combination with Reinvent Technology Partners Z.

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