Hippo Holdings Inc. (NYSE:HIPO) Major Shareholder Len Fw Investor, Llc Sells 514,309 Shares

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) major shareholder Len Fw Investor, Llc sold 514,309 shares of the stock in a transaction 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 transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Hippo Stock Up 1.8%

Hippo stock traded up $0.51 during mid-day trading on Friday, reaching $28.11. 124,889 shares of the company's stock were exchanged, compared to its average volume of 187,482. The business's fifty day simple moving average is $25.19 and its 200 day simple moving average is $26.20. Hippo Holdings Inc. has a one year low of $14.58 and a one year high of $35.44. The firm has a market capitalization of $707.16 million, a PE ratio of -12.89 and a beta of 1.53.

Hippo (NYSE:HIPO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($1.91) EPS for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.50). The business had revenue of $110.30 million for the quarter, compared to the consensus estimate of $106.70 million. Hippo had a negative return on equity of 29.27% and a negative net margin of 13.21%. On average, sell-side analysts forecast that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group decreased their price target on Hippo from $43.00 to $30.00 and set a "buy" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods upped their target price on shares of Hippo from $24.00 to $26.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 22nd. Finally, B. Riley initiated coverage on shares of Hippo in a research report on Tuesday. They set a "buy" rating and a $35.00 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIPO. Renaissance Technologies LLC lifted its holdings in shares of Hippo by 90.8% in the fourth quarter. Renaissance Technologies LLC now owns 268,320 shares of the company's stock worth $7,183,000 after buying an additional 127,716 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Hippo in the fourth quarter valued at about $3,369,000. Dimensional Fund Advisors LP increased its stake in shares of Hippo by 96.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 228,137 shares of the company's stock valued at $6,107,000 after buying an additional 112,108 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new position in Hippo in the 1st quarter worth $2,636,000. Finally, Tenzing Global Management LLC bought a new position in Hippo in the first quarter worth about $2,556,000. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

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.