Hippo Holdings Inc. (NYSE:HIPO) Short Interest Down 6.8% in October

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

Insiders Place Their Bets

In other Hippo news, CAO Anirudh Badia sold 2,552 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value of $62,498.48. Following the sale, the chief accounting officer now owns 102,315 shares in the company, valued at approximately $2,505,694.35. This represents a 2.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard Mccathron sold 10,000 shares of the firm’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 transaction of $255,500.00. Following the sale, the chief executive officer now directly owns 366,146 shares in the company, valued at $9,355,030.30. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have 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

Large investors have recently added to or reduced their stakes in the stock. Caz Investments LP raised its holdings in shares of Hippo by 100.0% during the third quarter. Caz Investments LP now owns 5,600 shares of the company’s stock valued at $95,000 after acquiring an additional 2,800 shares during the last quarter. SG Americas Securities LLC acquired a new position in Hippo in the 3rd quarter valued at $174,000. Public Employees Retirement System of Ohio purchased a new position in Hippo in the 3rd quarter valued at $174,000. AQR Capital Management LLC acquired a new stake in Hippo during the 2nd quarter worth $194,000. Finally, PEAK6 Investments LLC purchased a new stake in shares of Hippo during the first quarter worth $277,000. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Hippo Price Performance

Shares of NYSE:HIPO opened at $29.10 on Wednesday. The business’s 50 day moving average price is $20.21 and its 200-day moving average price is $18.59. Hippo has a 1 year low of $7.75 and a 1 year high of $29.74. The firm has a market capitalization of $708.88 million, a price-to-earnings ratio of -5.59 and a beta of 1.26.

Analyst Upgrades and Downgrades

HIPO has been the topic of several recent analyst reports. 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 research note on Wednesday, October 9th. Keefe, Bruyette & Woods upped their price target on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, August 19th.

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.