Newegg commerce: Galkin family buys $5.8M in NEGG stock
PALO ALTO, CA—Torben Ostergaard, CEO of Spinnaker at Hippo Holdings Inc. (NYSE:HIPO), recently sold a significant portion of his holdings in the company. According to an SEC filing, Ostergaard sold a total of 40,431 shares of common stock over two days, February 4 and February 5, 2025. The transactions, executed under a Rule 10b5-1 trading plan, fetched a total of approximately $1.22 million. InvestingPro data shows the stock is slightly undervalued, with shares up 223.95% over the past year and the company’s market cap now standing at $751.25 million.
The sales were conducted at weighted average prices ranging from $30.05 to $30.2916 per share. Following these transactions, Ostergaard retains ownership of 54,835 shares in Hippo Holdings.
These transactions are part of a pre-established trading plan, which allows insiders to sell a predetermined number of shares at a predetermined time, providing a measure of protection against accusations of insider trading.
In other recent news, Hippo, a home insurance company, has announced the appointment of Andrea Collins as its new Chief Marketing Officer. Collins, who served as Hippo’s Vice President of Marketing from 2017 to 2022, brings over two decades of marketing experience to the role. She has held leadership roles in marketing in the insurance and technology sectors, and she is known for enhancing brand performance, driving revenue growth, and reducing customer acquisition costs.
During her previous tenure at Hippo, Collins played a significant role in the company’s public offering and the establishment of its marketing strategy and brand identity. She plans to leverage her experience to expand Hippo’s market presence and deepen its investment in distribution channels, particularly the New Homes Program, which offers an embedded insurance solution for homebuilders.
These recent developments are part of Hippo’s ongoing efforts to enhance its leadership team and strengthen its marketing initiatives. The information is based on a press release statement from the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.