Hippo (NYSE:HIPO) Shares Gap Down – Should You Sell?

Shares of Hippo Holdings Inc. (NYSE:HIPO) gapped down prior to trading on Wednesday . The stock had previously closed at $29.10, but opened at $28.24. Hippo shares last traded at $28.36, with a volume of 53,701 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, August 19th.

Hippo Price Performance

The company has a 50 day moving average of $20.69 and a 200-day moving average of $18.75. The company has a market cap of $780.98 million, a P/E ratio of -6.15 and a beta of 1.26.

Insider Buying and Selling

In other news, CAO Anirudh Badia sold 2,552 shares of Hippo stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value of $62,498.48. Following the transaction, the chief accounting officer now owns 102,315 shares in the company, valued at approximately $2,505,694.35. The trade was a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total value of $198,327.50. Following the sale, the chairman now owns 548,064 shares of the company’s stock, valued at $8,873,156.16. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,657 shares of company stock worth $538,171. Insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

A number of large investors have recently added to or reduced their stakes in the company. Caz Investments LP raised its holdings in shares of Hippo by 100.0% during the third quarter. Caz Investments LP now owns 5,600 shares of the company’s stock valued at $95,000 after acquiring an additional 2,800 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Hippo during the third quarter valued at about $174,000. Public Employees Retirement System of Ohio purchased a new position in shares of Hippo during the third quarter valued at about $174,000. AQR Capital Management LLC bought a new position in Hippo in the second quarter worth about $194,000. Finally, PEAK6 Investments LLC purchased a new stake in Hippo in the first quarter worth about $277,000. Institutional investors own 43.01% of the company’s stock.

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.