Hippo (NYSE:HIPO) Trading Down 4.1% – Time to Sell?

Shares of Hippo Holdings Inc. (NYSE:HIPO) were down 4.1% on Monday . The company traded as low as $32.16 and last traded at $32.60. Approximately 40,083 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 159,776 shares. The stock had previously closed at $34.01.

Analysts Set New Price Targets

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

Hippo Stock Down 3.0 %

The stock’s fifty day simple moving average is $20.98 and its 200-day simple moving average is $18.86.

Insider Activity at Hippo

In other news, CAO Anirudh Badia sold 2,552 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $24.49, for a total transaction of $62,498.48. Following the transaction, the chief accounting officer now directly owns 102,315 shares in the company, valued at $2,505,694.35. This represents a 2.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Assaf Wand sold 12,250 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total transaction of $198,327.50. Following the completion of the sale, the chairman now owns 548,064 shares of the company’s stock, valued at approximately $8,873,156.16. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,657 shares of company stock valued at $538,171. Company insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

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