Hippo (NYSE:HIPO) Stock Price Up 4.3% on Insider Buying Activity

Shares of Hippo Holdings Inc (NYSE:HIPO) rose 4.3% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $3.63 and last traded at $3.61. Approximately 15,396 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 1,497,104 shares. The stock had previously closed at $3.46.

Specifically, insider Assaf Wand acquired 40,650 shares of the stock in a transaction that occurred on Friday, November 19th. The stock was bought at an average cost of $3.70 per share, with a total value of $150,405.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

HIPO has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of Hippo in a research note on Tuesday, October 12th. They issued a “neutral” rating and a $5.40 price objective for the company. Jefferies Financial Group began coverage on shares of Hippo in a research report on Thursday, November 18th. They set a “buy” rating and a $8.00 price target for the company.

The firm’s 50-day moving average price is $4.54.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Wednesday, November 10th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01).

Several institutional investors and hedge funds have recently bought and sold shares of HIPO. Wolverine Asset Management LLC acquired a new position in shares of Hippo during the third quarter valued at about $26,000. First Republic Investment Management Inc. acquired a new position in shares of Hippo during the third quarter valued at about $57,000. Psagot Value Holdings Ltd. acquired a new position in shares of Hippo during the third quarter valued at about $58,000. Two Sigma Securities LLC acquired a new position in shares of Hippo during the third quarter valued at about $58,000. Finally, AJ Wealth Strategies LLC acquired a new position in shares of Hippo during the third quarter valued at about $70,000. Hedge funds and other institutional investors own 23.39% of the company’s stock.

Hippo Company Profile (NYSE:HIPO)

Hippo Holdings Inc offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. The company is a licensed property casualty insurance agent with products underwritten by various insurance companies. It operates principally in Austin and Dallas, Texas.

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