Hippo (NYSE:HIPO) Shares Gap Up – Should You Buy?

Shares of Hippo Holdings Inc. (NYSE:HIPO) gapped up before the market opened on Thursday . The stock had previously closed at $27.10, but opened at $27.81. Hippo shares last traded at $29.09, with a volume of 27,272 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Hippo from $43.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods increased their price objective on shares of Hippo from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Tuesday, April 22nd.

Hippo Trading Down 4.4%

The stock’s 50-day moving average is $23.93 and its 200-day moving average is $26.40. The stock has a market cap of $711.24 million, a price-to-earnings ratio of -5.43 and a beta of 1.48.

Hippo (NYSE:HIPO) last posted its earnings results on Wednesday, May 7th. The company reported ($1.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.50). The business had revenue of $110.30 million for the quarter, compared to analyst estimates of $106.70 million. Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. On average, equities analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hippo news, CEO Torben Ostergaard sold 4,889 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $24.61, for a total value of $120,318.29. Following the completion of the sale, the chief executive officer now owns 66,793 shares of the company’s stock, valued at $1,643,775.73. This trade represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.37% of the company’s stock.

Institutional Trading of Hippo

Several large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in Hippo in the first quarter valued at approximately $551,000. Tenzing Global Management LLC acquired a new stake in Hippo in the first quarter valued at approximately $2,556,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Hippo during the first quarter worth approximately $2,636,000. AQR Capital Management LLC grew its position in shares of Hippo by 8.3% during the first quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock worth $414,000 after buying an additional 1,236 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of Hippo during the first quarter worth approximately $485,000. Institutional investors and hedge funds 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.