Short Interest in Hippo Holdings Inc. (NYSE:HIPO) Declines By 6.8%

Hippo Holdings Inc. (NYSE:HIPO) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,360,000 shares, a drop of 6.8% from the October 15th total of 1,460,000 shares. Based on an average trading volume of 125,600 shares, the days-to-cover ratio is presently 10.8 days. Currently, 9.8% of the shares of the company are short sold.

Insider Transactions at Hippo

In related news, Chairman Assaf Wand sold 12,250 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total transaction of $198,327.50. Following the completion of the transaction, the chairman now directly owns 548,064 shares in the company, valued at approximately $8,873,156.16. The trade was a 2.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anirudh Badia sold 2,552 shares of the firm’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 transaction of $62,498.48. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 25,657 shares of company stock worth $538,171 in the last 90 days. 11.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HIPO. Caz Investments LP lifted its position in shares of Hippo by 100.0% in the third quarter. Caz Investments LP now owns 5,600 shares of the company’s stock worth $95,000 after buying an additional 2,800 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Hippo during the 3rd quarter valued at approximately $174,000. Public Employees Retirement System of Ohio purchased a new position in shares of Hippo in the third quarter valued at $174,000. AQR Capital Management LLC bought a new stake in Hippo in the second quarter worth $194,000. Finally, PEAK6 Investments LLC purchased a new stake in Hippo during the first quarter valued at $277,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Hippo Stock Up 4.7 %

HIPO opened at $28.59 on Tuesday. The company has a fifty day moving average of $19.99 and a 200 day moving average of $18.51. Hippo has a fifty-two week low of $7.75 and a fifty-two week high of $29.74.

Analyst Ratings Changes

A number of research firms have commented on HIPO. Jefferies Financial Group decreased their price target on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price target on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, August 19th.

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.