Hood River Capital Management LLC Reduces Stock Position in Hippo Holdings Inc. (NYSE:HIPO)

Hood River Capital Management LLC cut its stake in shares of Hippo Holdings Inc. (NYSE:HIPO) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 321,924 shares of the company’s stock after selling 4,419 shares during the period. Hood River Capital Management LLC owned about 1.32% of Hippo worth $5,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Hippo in the fourth quarter worth approximately $114,000. Trexquant Investment LP bought a new position in Hippo in the 4th quarter worth $327,000. Steamboat Capital Partners LLC purchased a new position in Hippo during the first quarter valued at $158,000. Vanguard Group Inc. grew its holdings in Hippo by 6.3% during the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after purchasing an additional 45,058 shares during the period. Finally, PEAK6 Investments LLC bought a new stake in Hippo during the first quarter valued at about $277,000. 43.01% of the stock is owned by institutional investors.

Hippo Price Performance

Shares of HIPO stock opened at $17.91 on Tuesday. The company has a market capitalization of $437.42 million, a price-to-earnings ratio of -1.78 and a beta of 1.35. The company’s fifty day moving average price is $18.51 and its 200-day moving average price is $18.39. Hippo Holdings Inc. has a one year low of $6.64 and a one year high of $25.49.

Hippo (NYSE:HIPO) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.64) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.16). Hippo had a negative net margin of 57.80% and a negative return on equity of 46.46%. The business had revenue of $89.60 million during the quarter, compared to analysts’ expectations of $85.40 million. During the same quarter in the previous year, the firm earned ($4.61) earnings per share. Equities research analysts expect that Hippo Holdings Inc. will post -4.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price objective on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, August 19th.

Insider Buying and Selling at Hippo

In related news, CRO Yuval Harry sold 1,419 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $18.14, for a total transaction of $25,740.66. Following the completion of the transaction, the executive now owns 121,753 shares in the company, valued at $2,208,599.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.37% of the company’s stock.

Hippo Company Profile

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.