Hippo (NYSE:HIPO) Shares Down 7.1%

Shares of Hippo Holdings Inc. (NYSE:HIPO) dropped 7.1% during trading on Monday . The stock traded as low as $20.84 and last traded at $20.90. Approximately 96,924 shares changed hands 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 reiterated a “market outperform” rating and set a $25.00 price target on shares of Hippo in a research note on Monday.

Hippo Stock Down 2.5 %

The stock has a 50 day moving average of $16.51 and a two-hundred day moving average of $11.30.

Hippo (NYSE:HIPO) last issued its earnings results on Wednesday, March 6th. The company reported ($1.76) EPS for the quarter, topping the consensus estimate of ($2.04) by $0.28. The company had revenue of $64.50 million for the quarter, compared to analyst estimates of $57.00 million. Hippo had a negative net margin of 130.19% and a negative return on equity of 61.14%. As a group, research analysts anticipate that Hippo Holdings Inc. will post -4.09 EPS for the current year.

Insider Buying and Selling at Hippo

In related news, CRO Yuval Harry sold 14,938 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $17.20, for a total value of $256,933.60. Following the completion of the transaction, the executive now directly owns 145,162 shares of the company’s stock, valued at approximately $2,496,786.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hippo news, CAO Anirudh Badia sold 1,735 shares of the company’s stock in a transaction dated 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 owns 122,454 shares of the company’s stock, valued at $2,251,929.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Yuval Harry sold 14,938 shares of the firm’s stock in a transaction that occurred 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 $2,496,786.40. The disclosure for this sale can be found here. 11.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hippo

A number of institutional investors have recently made changes to their positions in HIPO. Vanguard Group Inc. increased its position in Hippo by 135.5% during the 1st quarter. Vanguard Group Inc. now owns 15,042,378 shares of the company’s stock worth $29,934,000 after purchasing 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 purchasing an additional 2,475,532 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Hippo by 237.3% during the second quarter. Northern Trust Corp now owns 2,473,055 shares of the company’s stock worth $2,174,000 after buying an additional 1,739,907 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Hippo by 265.8% in the first quarter. Renaissance Technologies LLC now owns 2,084,106 shares of the company’s stock valued at $4,147,000 after buying an additional 1,514,406 shares during the last quarter. Finally, ExodusPoint Capital Management LP lifted its stake in shares of Hippo by 141.0% during the second quarter. ExodusPoint Capital Management LP now owns 967,578 shares of the company’s stock valued at $850,000 after buying an additional 566,158 shares during the period. 43.01% of the stock is owned by institutional investors and hedge funds.

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.