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

Hippo Holdings Inc. (NYSE:HIPO) was the target of a large decline in short interest in 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. Based on an average trading volume of 125,600 shares, the short-interest ratio is presently 10.8 days. Currently, 9.8% of the shares of the company are sold short.

Insider Buying and Selling at Hippo

In other news, Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total transaction of $198,327.50. Following the completion of the transaction, the chairman now directly owns 548,064 shares of the company’s stock, valued at $8,873,156.16. The trade was a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anirudh Badia sold 2,552 shares of Hippo stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $24.49, for a total transaction of $62,498.48. Following the transaction, the chief accounting officer now directly owns 102,315 shares of the company’s stock, valued at approximately $2,505,694.35. This trade represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,657 shares of company stock worth $538,171. Company insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Hippo by 6.3% in the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock valued at $7,467,000 after buying an additional 26,085 shares during the last quarter. Barclays PLC lifted its position in shares of Hippo by 276.5% during the third quarter. Barclays PLC now owns 25,816 shares of the company’s stock worth $435,000 after purchasing an additional 18,960 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Hippo during the third quarter worth about $174,000. State Street Corp lifted its position in shares of Hippo by 10.5% during the third quarter. State Street Corp now owns 377,537 shares of the company’s stock worth $6,373,000 after purchasing an additional 35,743 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Hippo during the third quarter worth about $864,000. Institutional investors and hedge funds own 43.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their target price on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, August 19th.

Hippo Trading Up 5.5 %

Shares of HIPO stock opened at $28.80 on Monday. The company’s 50-day moving average price is $19.78 and its 200-day moving average price is $18.44. Hippo has a twelve month low of $7.75 and a twelve month high of $29.74. The stock has a market cap of $717.70 million, a price-to-earnings ratio of -5.24 and a beta of 1.26.

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.