Hippo (NYSE:HIPO) Stock Price Down 7.1%

Hippo Holdings Inc. (NYSE:HIPO)’s stock price dropped 7.1% during mid-day trading on Monday . The company traded as low as $20.84 and last traded at $20.90. Approximately 96,924 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 175,476 shares. The stock had previously closed at $22.49.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market outperform” rating and issued a $25.00 price target on shares of Hippo in a research report on Monday.

Hippo Stock Performance

The firm’s 50 day moving average is $16.51 and its 200 day moving average is $11.30.

Hippo (NYSE:HIPO) last announced its earnings results on Wednesday, March 6th. The company reported ($1.76) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.28. Hippo had a negative return on equity of 61.14% and a negative net margin of 130.19%. The firm had revenue of $64.50 million for the quarter, compared to the consensus estimate of $57.00 million. On average, analysts forecast that Hippo Holdings Inc. will post -4.09 earnings per share for the current year.

Insider Activity

In other news, CRO Yuval Harry sold 14,938 shares of Hippo stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $17.20, for a total transaction of $256,933.60. Following the completion of the sale, the executive now directly owns 145,162 shares in the company, valued at $2,496,786.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Anirudh Badia sold 1,735 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $18.39, for a total value of $31,906.65. Following the sale, the chief accounting officer now directly owns 122,454 shares of the company’s stock, valued at approximately $2,251,929.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Yuval Harry sold 14,938 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $17.20, for a total transaction of $256,933.60. Following the transaction, the executive now directly owns 145,162 shares of the company’s stock, valued at approximately $2,496,786.40. The disclosure for this sale can be found here. Corporate insiders own 11.28% of the company’s stock.

Hedge Funds Weigh In On Hippo

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Hippo by 135.5% during the first quarter. Vanguard Group Inc. now owns 15,042,378 shares of the company’s stock worth $29,934,000 after buying an additional 8,655,415 shares in the last quarter. State Street Corp boosted its stake in shares of Hippo by 157.7% during the 2nd quarter. State Street Corp now owns 4,045,702 shares of the company’s stock worth $3,555,000 after acquiring an additional 2,475,532 shares in the last quarter. Northern Trust Corp grew its position in shares of Hippo by 237.3% during the 2nd quarter. Northern Trust Corp now owns 2,473,055 shares of the company’s stock valued at $2,174,000 after acquiring an additional 1,739,907 shares during the period. Renaissance Technologies LLC increased its stake in shares of Hippo by 265.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,084,106 shares of the company’s stock valued at $4,147,000 after purchasing an additional 1,514,406 shares in the last quarter. Finally, ExodusPoint Capital Management LP raised its holdings in Hippo by 141.0% in the 2nd quarter. ExodusPoint Capital Management LP now owns 967,578 shares of the company’s stock worth $850,000 after purchasing an additional 566,158 shares during the period. Hedge funds and other institutional investors own 43.01% of the company’s stock.

About Hippo

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.