Hippo (NYSE:HIPO) Shares Gap Up – Time to Buy?

Shares of Hippo Holdings Inc. (NYSE:HIPO) gapped up before the market opened on Tuesday . The stock had previously closed at $27.76, but opened at $29.37. Hippo shares last traded at $29.42, with a volume of 9,654 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of Hippo from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. B. Riley Financial started coverage on shares of Hippo in a report on Friday, April 17th. They set a “buy” rating and a $38.00 target price for the company. Texas Capital raised shares of Hippo to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Hippo from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Hippo presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

Hippo Stock Performance

The stock’s 50-day simple moving average is $27.08 and its 200-day simple moving average is $27.58. The stock has a market cap of $780.99 million, a price-to-earnings ratio of 6.94 and a beta of 1.49. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.59. The company had revenue of $144.70 million during the quarter, compared to the consensus estimate of $137.44 million. Hippo had a net margin of 23.45% and a return on equity of 12.17%. Analysts forecast that Hippo Holdings Inc. will post 0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Torben Ostergaard sold 3,667 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.10, for a total transaction of $95,708.70. Following the completion of the sale, the chief executive officer directly owned 65,673 shares in the company, valued at approximately $1,714,065.30. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $27.10, for a total value of $135,500.00. Following the sale, the chief executive officer directly owned 604,212 shares in the company, valued at approximately $16,374,145.20. This trade represents a 0.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 18,667 shares of company stock worth $498,859. Corporate insiders own 4.48% of the company’s stock.

Institutional Investors Weigh In On Hippo

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Hippo by 5.3% during the third quarter. Vanguard Group Inc. now owns 1,108,547 shares of the company’s stock worth $40,085,000 after buying an additional 55,394 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Hippo by 24.1% in the 4th quarter. Geode Capital Management LLC now owns 557,066 shares of the company’s stock valued at $16,760,000 after buying an additional 108,359 shares in the last quarter. Westerly Capital Management LLC raised its position in shares of Hippo by 24.3% in the 4th quarter. Westerly Capital Management LLC now owns 420,000 shares of the company’s stock valued at $12,634,000 after buying an additional 82,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Hippo by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company’s stock worth $10,291,000 after acquiring an additional 29,993 shares during the period. Finally, Stoic Point Capital Management LLC lifted its holdings in shares of Hippo by 0.8% during the 1st quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock worth $6,544,000 after acquiring an additional 2,100 shares during the period. Institutional investors own 43.01% of the company’s stock.

Hippo Company Profile

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo’s policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.