Hood River Capital Management LLC Buys 144,459 Shares of Hippo Holdings Inc. (NYSE:HIPO)

Hood River Capital Management LLC lifted its stake in Hippo Holdings Inc. (NYSE:HIPO) by 79.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 326,343 shares of the company’s stock after purchasing an additional 144,459 shares during the quarter. Hood River Capital Management LLC’s holdings in Hippo were worth $5,962,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Steamboat Capital Partners LLC bought a new stake in Hippo during the first quarter worth $158,000. Dynamic Technology Lab Private Ltd bought a new stake in Hippo during the fourth quarter worth $114,000. SVB Wealth LLC bought a new stake in Hippo during the fourth quarter worth $122,000. PEAK6 Investments LLC bought a new stake in Hippo during the first quarter worth $277,000. Finally, Trexquant Investment LP bought a new stake in Hippo during the fourth quarter worth $327,000. 43.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HIPO. Keefe, Bruyette & Woods cut Hippo from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $22.00 to $20.00 in a research note on Monday, July 22nd. JMP Securities restated a “market outperform” rating and set a $25.00 target price on shares of Hippo in a research note on Monday, April 15th.

Insider Activity

In related news, CRO Yuval Harry sold 14,995 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $18.16, for a total value of $272,309.20. Following the completion of the sale, the executive now directly owns 123,993 shares in the company, valued at $2,251,712.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.37% of the stock is owned by corporate insiders.

Hippo Stock Performance

Shares of HIPO traded up $0.20 during trading hours on Friday, reaching $18.89. The stock had a trading volume of 162,526 shares, compared to its average volume of 200,291. Hippo Holdings Inc. has a 12 month low of $6.64 and a 12 month high of $25.49. The stock has a market capitalization of $461.48 million, a PE ratio of -1.87 and a beta of 1.33. The company’s 50-day moving average is $17.17 and its two-hundred day moving average is $16.16.

Hippo (NYSE:HIPO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.06). Hippo had a negative net margin of 93.69% and a negative return on equity of 59.81%. The firm had revenue of $85.10 million during the quarter, compared to the consensus estimate of $67.90 million. Equities analysts anticipate that Hippo Holdings Inc. will post -4.98 earnings per share for the current fiscal year.

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.