Assaf Wand Sells 12,250 Shares of Hippo Holdings Inc. (NYSE:HIPO) Stock

Hippo Holdings Inc. (NYSE:HIPO) Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $26.02, for a total value of $318,745.00. Following the completion of the sale, the chairman now directly owns 511,314 shares in the company, valued at $13,304,390.28. This represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hippo Stock Performance

NYSE:HIPO opened at $26.80 on Friday. The stock’s 50-day simple moving average is $27.44 and its 200 day simple moving average is $21.19. The company has a market cap of $652.85 million, a P/E ratio of -5.14 and a beta of 1.47. Hippo Holdings Inc. has a 52-week low of $7.75 and a 52-week high of $34.24.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HIPO. Jefferies Financial Group decreased their price objective on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. JMP Securities lifted their price objective on shares of Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd.

Institutional Investors Weigh In On Hippo

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Hippo by 6.3% during the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock worth $7,467,000 after acquiring an additional 26,085 shares in the last quarter. State Street Corp grew its holdings in 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 during the period. Charles Schwab Investment Management Inc. raised its stake in Hippo by 9.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company’s stock valued at $2,553,000 after buying an additional 13,586 shares during the period. JPMorgan Chase & Co. raised its stake in Hippo by 205.0% in the third quarter. JPMorgan Chase & Co. now owns 146,176 shares of the company’s stock valued at $2,467,000 after buying an additional 98,256 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hippo by 37.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company’s stock worth $1,113,000 after acquiring an additional 17,978 shares during the period. Institutional investors and hedge funds own 43.01% of the company’s stock.

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.