Hood River Capital Management LLC Purchases 144,459 Shares of Hippo Holdings Inc. (NYSE:HIPO)

Hood River Capital Management LLC grew its position in Hippo Holdings Inc. (NYSE:HIPO) by 79.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 326,343 shares of the company’s stock after acquiring an additional 144,459 shares during the quarter. Hood River Capital Management LLC owned 1.34% of Hippo worth $5,962,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Ieq Capital LLC bought a new position in shares of Hippo during the 4th quarter worth approximately $460,000. Vanguard Group Inc. lifted its position in shares of Hippo by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after buying an additional 45,058 shares during the period. Trexquant Investment LP bought a new position in shares of Hippo during the 4th quarter worth approximately $327,000. PEAK6 Investments LLC bought a new position in shares of Hippo during the 1st quarter worth approximately $277,000. Finally, SVB Wealth LLC bought a new position in shares of Hippo during the 4th quarter worth approximately $122,000. Institutional investors own 43.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HIPO. JMP Securities restated a “market outperform” rating and set a $25.00 target price on shares of Hippo in a research report on Monday, April 15th. Keefe, Bruyette & Woods downgraded Hippo from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $22.00 to $20.00 in a research report on Monday, July 22nd.

Insider Activity

In other news, CRO Yuval Harry sold 14,995 shares of Hippo stock in a transaction on Friday, May 24th. The stock was sold at an average price of $18.16, for a total value of $272,309.20. Following the completion of the sale, the executive now directly owns 123,993 shares of the company’s stock, valued at approximately $2,251,712.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.37% of the company’s stock.

Hippo Stock Up 1.1 %

HIPO stock traded up $0.20 during midday trading on Friday, reaching $18.89. 162,526 shares of the company’s stock traded hands, compared to its average volume of 200,291. The company has a 50-day simple moving average of $17.17 and a two-hundred day simple moving average of $16.16. Hippo Holdings Inc. has a 1-year low of $6.64 and a 1-year high of $25.49. The company has a market cap of $461.48 million, a price-to-earnings ratio of -1.87 and a beta of 1.33.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.06). Hippo had a negative net margin of 93.69% and a negative return on equity of 59.81%. The business had revenue of $85.10 million for the quarter, compared to analyst estimates of $67.90 million. Equities research analysts forecast that Hippo Holdings Inc. will post -4.98 EPS for the current year.

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.