Hippo (NYSE:HIPO) Shares Down 6% – Should You Sell?

Hippo Holdings Inc. (NYSE:HIPO) traded down 6% during trading on Tuesday . The stock traded as low as $26.30 and last traded at $26.53. 39,092 shares were traded during trading, a decline of 75% from the average session volume of 159,541 shares. The stock had previously closed at $28.22.

Wall Street Analyst Weigh In

Several analysts recently commented on HIPO shares. JMP Securities raised their price objective on shares of Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price objective on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, August 19th.

Hippo Trading Down 6.7 %

The company has a market capitalization of $641.64 million, a PE ratio of -5.42 and a beta of 1.47. The company’s 50 day moving average price is $25.16 and its 200-day moving average price is $20.28.

Insiders Place Their Bets

In other Hippo news, CAO Anirudh Badia sold 2,552 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value of $62,498.48. Following the completion of the transaction, the chief accounting officer now owns 102,315 shares in the company, valued at $2,505,694.35. This represents a 2.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of the business’s 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 completion of the sale, the chairman now directly owns 548,064 shares of the company’s stock, valued at approximately $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. Insiders sold 40,657 shares of company stock worth $990,571 over the last three months. 11.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Hippo

A number of large investors have recently bought and sold shares of HIPO. Caz Investments LP boosted 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 during the period. Public Employees Retirement System of Ohio acquired a new stake in Hippo in the 3rd quarter valued at approximately $174,000. SG Americas Securities LLC bought a new position in shares of Hippo in the third quarter valued at approximately $174,000. AQR Capital Management LLC bought a new stake in shares of Hippo in the 2nd quarter worth $194,000. Finally, Squarepoint Ops LLC acquired a new position in Hippo in the 2nd quarter worth approximately $335,000. 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.