Ellis Stewart, Chief Financial Officer and Chief Strategy Officer at Hippo Holdings Inc. (NYSE:HIPO), recently sold a significant portion of his shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Stewart sold 12,000 shares of Hippo Holdings’ common stock on December 18, 2024. The shares were sold at a weighted average price of $25.9132, with the transaction amounting to approximately $310,958. This sale comes amid a remarkable year for Hippo’s stock, which has surged nearly 177% year-to-date, according to InvestingPro data.
The sale was conducted under a Rule 10b5-1 trading plan, which was established on September 15, 2023. Following this transaction, Stewart retains direct ownership of 328,215 shares and indirect ownership of 10,335 shares, which are held by the Preservation Trust Company, Inc., as Trustee of the Desertfish Nevada Trust. InvestingPro analysis suggests Hippo Holdings is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers key metrics and expert analysis for this $615 million market cap company.
In other recent news, Hippo Holdings Inc. has seen significant changes in its executive leadership and financial performance. The company reported a robust growth in total generated premium and revenue for the second quarter of 2024, a positive trajectory attributed to strategic initiatives that increased customer lifetime value, reduced acquisition costs, and significantly decreased weather-related losses. Hippo anticipates a positive adjusted EBITDA by the fourth quarter of 2024.
The company has also undergone leadership changes. Yuval Harry, the Chief Revenue Officer, will be transitioning from his executive role to a consultative position within the company. Concurrently, Hippo appointed William Malone, a seasoned professional with 25 years of experience in the insurance industry, as Vice President, Head of Agency.
Furthermore, Andrea Collins has returned to Hippo as its Chief Marketing Officer. Collins, who previously served as Hippo’s Vice President of Marketing, brings over twenty years of marketing experience to the role. She aims to leverage her experience to further Hippo’s market presence and deepen its investment in distribution channels.
In another development, Hippo Holdings’ warrants were delisted from the New York Stock Exchange due to persistently low selling prices. This decision, however, does not impact the company’s common stock, which remains listed on the NYSE. These recent developments reflect Hippo’s ongoing efforts to navigate financial markets and achieve its financial targets.
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