Torben Ostergaard Sells 2,444 Shares of Hippo Holdings Inc. (NYSE:HIPO) Stock

Hippo Holdings Inc. (NYSE:HIPO) CEO Torben Ostergaard sold 2,444 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $29.95, for a total transaction of $73,197.80. Following the sale, the chief executive officer now directly owns 64,349 shares of the company’s stock, valued at approximately $1,927,252.55. This trade represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Torben Ostergaard also recently made the following trade(s):

• On Wednesday, June 4th, Torben Ostergaard sold 4,889 shares of Hippo stock. The shares were sold at an average price of $24.61, for a total transaction of $120,318.29.

Hippo Trading Up 3.5%

Shares of NYSE:HIPO traded up $0.99 during midday trading on Monday, reaching $29.25. The company had a trading volume of 395,921 shares, compared to its average volume of 184,253. The stock has a market cap of $735.94 million, a P/E ratio of -5.61 and a beta of 1.48. Hippo Holdings Inc. has a 52-week low of $14.58 and a 52-week high of $35.44. The company’s 50 day moving average price is $23.93 and its 200 day moving average price is $26.31.

Hippo (NYSE:HIPO) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.50). Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. The business had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $106.70 million. Research analysts forecast that Hippo Holdings Inc. will post -3.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HIPO has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on Hippo from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, April 22nd. Jefferies Financial Group reduced their price objective on Hippo from $43.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, April 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIPO. BNP Paribas Financial Markets bought a new stake in Hippo in the fourth quarter valued at approximately $118,000. The Manufacturers Life Insurance Company bought a new stake in shares of Hippo during the fourth quarter valued at approximately $200,000. Two Sigma Advisers LP bought a new stake in shares of Hippo during the 4th quarter valued at $200,000. EntryPoint Capital LLC purchased a new stake in Hippo in the fourth quarter worth about $204,000. Finally, GAMMA Investing LLC increased its position in Hippo by 4,916.3% during the 1st quarter. GAMMA Investing LLC now owns 8,026 shares of the company’s stock valued at $2,050,000 after buying an additional 7,866 shares in the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

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.