Hippo (NYSE:HIPO) Shares Gap Down on Disappointing Earnings

Hippo Holdings Inc. (NYSE:HIPO) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $24.46, but opened at $23.32. Hippo shares last traded at $21.63, with a volume of 158,581 shares traded.

The company reported ($1.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.50). The company 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%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HIPO shares. Jefferies Financial Group decreased their price target on Hippo from $43.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods increased their target price 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.

Insiders Place Their Bets

In related news, Chairman Assaf Wand sold 12,250 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $28.90, for a total transaction of $354,025.00. Following the sale, the chairman now owns 486,814 shares of the company’s stock, valued at $14,068,924.60. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Stienstra sold 2,329 shares of Hippo stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total value of $69,916.58. Following the transaction, the insider now owns 59,648 shares in the company, valued at approximately $1,790,632.96. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Hippo

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its stake in Hippo by 276.5% during the third 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. JPMorgan Chase & Co. grew its holdings in shares of Hippo by 205.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 146,176 shares of the company’s stock worth $2,467,000 after acquiring an additional 98,256 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Hippo during the fourth quarter worth $311,000. Ieq Capital LLC boosted its position in shares of Hippo by 112.5% in the 4th quarter. Ieq Capital LLC now owns 107,086 shares of the company’s stock valued at $2,867,000 after purchasing an additional 56,684 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Hippo by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 1,020,249 shares of the company’s stock valued at $27,312,000 after purchasing an additional 96,959 shares during the period. 43.01% of the stock is owned by institutional investors and hedge funds.

Hippo Stock Performance

The stock has a market cap of $514.43 million, a PE ratio of -3.94 and a beta of 1.49. The stock has a 50 day moving average of $24.96 and a two-hundred day moving average of $26.57.

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.