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

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) was the target of a significant decline in short interest during 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. Approximately 9.8% of the company's shares are short sold. Based on an average daily trading volume, of 125,600 shares, the short-interest ratio is currently 10.8 days.

Wall Street Analyst Weigh In

HIPO has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Hippo from $20.00 to $21.00 and gave the stock a "market perform" rating in a research note on Monday, August 19th. Jefferies Financial Group cut their target price on Hippo from $29.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th.

Hippo Price Performance

HIPO stock traded up $1.25 during midday trading on Monday, reaching $28.54. 299,813 shares of the company's stock traded hands, compared to its average volume of 157,535. Hippo has a fifty-two week low of $7.75 and a fifty-two week high of $29.74. The business has a 50-day moving average price of $19.78 and a two-hundred day moving average price of $18.44. The company has a market capitalization of $711.22 million, a P/E ratio of -5.37 and a beta of 1.26.

Insider Activity

In related news, Chairman Assaf Wand sold 12,250 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total value of $198,327.50. Following the completion of the transaction, the chairman now directly owns 548,064 shares in the company, valued at approximately $8,873,156.16. This represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard Mccathron sold 10,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $25.55, for a total value of $255,500.00. Following the transaction, the chief executive officer now owns 366,146 shares in the company, valued at $9,355,030.30. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,657 shares of company stock valued at $538,171 over the last 90 days. Insiders own 11.37% of the company's stock.

Institutional Trading of Hippo

Several large investors have recently added to or reduced their stakes in HIPO. Hood River Capital Management LLC boosted its position in shares of Hippo by 79.4% in the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company's stock worth $5,962,000 after buying an additional 144,459 shares during the period. Vanguard Group Inc. lifted its position in Hippo by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company's stock worth $13,872,000 after acquiring an additional 45,058 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Hippo in the 2nd quarter worth approximately $629,000. Bank of New York Mellon Corp grew its position in Hippo by 99.2% in the second quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company's stock valued at $1,050,000 after acquiring an additional 30,418 shares in the last quarter. Finally, PEAK6 Investments LLC purchased a new stake in shares of Hippo during the first quarter valued at approximately $277,000. 43.01% of the stock is currently owned by institutional investors and hedge funds.

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.