Insider Selling: Hippo (NYSE:HIPO) CEO Sells $38,577.00 in Stock

Key Points

• Hippo CEO Torben Ostergaard sold 1,169 shares at an average price of $33, generating $38,577 in proceeds and reducing his ownership by 1.86% to 61,824 shares.
• Hippo shares rose 0.9% to $32.94, while the company reported quarterly earnings of $0.79 per share—well above the $0.17 loss analysts expected—and revenue of $144.7 million.
• Analyst sentiment remains positive, with the stock carrying an average “Buy” rating and a consensus price target of $40.50; institutional investors own 43.01% of the company.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Torben Ostergaard sold 1,169 shares of Hippo stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $33.00, for a total transaction of $38,577.00. Following the sale, the chief executive officer owned 61,824 shares in the company, valued at approximately $2,040,192. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hippo Trading Up 0.9%

HIPO stock traded up $0.29 during mid-day trading on Tuesday, reaching $32.94. 176,635 shares of the stock traded hands, compared to its average volume of 175,118. The stock's fifty day moving average is $29.09 and its 200-day moving average is $27.77. The company has a market cap of $869.15 million, a P/E ratio of 7.08 and a beta of 1.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. Hippo Holdings Inc. has a 52-week low of $24.08 and a 52-week high of $38.98.

Hippo (NYSE:HIPO - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.96. The company had revenue of $144.70 million for the quarter, compared to the consensus estimate of $137.44 million. Hippo had a return on equity of 10.68% and a net margin of 23.92%. As a group, sell-side analysts expect that Hippo Holdings Inc. will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On Hippo

A number of institutional investors have recently made changes to their positions in the business. Stoic Point Capital Management LLC bought a new stake in Hippo during the 4th quarter valued at approximately $7,490,000. BlackRock Inc. increased its position in Hippo by 17.8% in the 2nd 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 period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Hippo during the third quarter worth approximately $5,842,000. Geode Capital Management LLC lifted its holdings in shares of Hippo by 24.1% during the fourth quarter. Geode Capital Management LLC now owns 557,066 shares of the company's stock worth $16,760,000 after buying an additional 108,359 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Hippo in the second quarter valued at approximately $2,810,000. 43.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research raised Hippo from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. B. Riley Financial reaffirmed a "buy" rating and set a $41.50 target price (up from $38.00) on shares of Hippo in a research report on Monday, August 3rd. Keefe, Bruyette & Woods increased their price target on Hippo from $33.00 to $35.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Hippo in a research report on Friday, July 31st. Finally, Texas Capital upgraded shares of Hippo to a "strong-buy" rating in a research note on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Hippo presently has an average rating of "Buy" and an average target price of $40.50.

About Hippo

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo's policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.

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