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

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

Hippo Trading Up 2.0 %

NYSE HIPO opened at $29.10 on Wednesday. The stock has a market cap of $708.88 million, a P/E ratio of -5.59 and a beta of 1.26. Hippo has a 12-month low of $7.75 and a 12-month high of $29.74. The company has a fifty day simple moving average of $20.21 and a two-hundred day simple moving average of $18.59.

Analysts Set New Price Targets

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

Insider Buying and Selling at Hippo

In other news, Chairman Assaf Wand sold 12,250 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total value of $198,327.50. Following the transaction, the chairman now directly owns 548,064 shares in the company, valued at $8,873,156.16. The trade was a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Mccathron sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $25.55, for a total value of $255,500.00. Following the completion of the transaction, the chief executive officer now owns 366,146 shares of the company’s stock, valued at $9,355,030.30. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,657 shares of company stock valued at $538,171. Company insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Hippo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Hippo by 276.5% during the 3rd quarter. Barclays PLC now owns 25,816 shares of the company’s stock valued at $435,000 after purchasing an additional 18,960 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hippo by 6.3% during the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock worth $7,467,000 after purchasing an additional 26,085 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Hippo in the third quarter valued at approximately $174,000. State Street Corp increased its holdings in Hippo by 10.5% in the 3rd quarter. State Street Corp now owns 377,537 shares of the company’s stock worth $6,373,000 after buying an additional 35,743 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Hippo during the 3rd quarter worth approximately $864,000. Hedge funds and other institutional investors own 43.01% 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.