Hippo (NYSE:HIPO) Shares Down 4.1% After Insider Selling

Hippo Holdings Inc. (NYSE:HIPO)’s share price dropped 4.1% during trading on Monday following insider selling activity. The stock traded as low as $32.16 and last traded at $32.60. Approximately 40,083 shares changed hands during trading, a decline of 75% from the average daily volume of 159,776 shares. The stock had previously closed at $34.01.

Specifically, CEO Richard Mccathron sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $30.16, for a total transaction of $452,400.00. Following the completion of the transaction, the chief executive officer now owns 339,623 shares in the company, valued at approximately $10,243,029.68. This represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

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

Hippo Trading Up 1.0 %

The stock has a fifty day simple moving average of $21.55 and a two-hundred day simple moving average of $19.07. The firm has a market cap of $801.69 million, a PE ratio of -6.27 and a beta of 1.26.

Hedge Funds Weigh In On Hippo

Hedge funds have recently bought and sold shares of the company. Caz Investments LP boosted its holdings in Hippo by 100.0% in the 3rd quarter. Caz Investments LP now owns 5,600 shares of the company’s stock valued at $95,000 after purchasing an additional 2,800 shares during the period. SG Americas Securities LLC purchased a new position in Hippo during the third quarter worth about $174,000. Public Employees Retirement System of Ohio purchased a new position in Hippo during the third quarter worth about $174,000. AQR Capital Management LLC bought a new position in Hippo in the 2nd quarter worth about $194,000. Finally, PEAK6 Investments LLC bought a new stake in shares of Hippo during the 1st quarter valued at about $277,000. Hedge funds and other 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.