Neptune Insurance (NYSE:NP) Insider Sells 41,392 Shares of Company Stock

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 41,392 shares of the stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $27.15, for a total value of $1,123,792.80. Following the transaction, the insider owned 1,964,239 shares of the company’s stock, valued at approximately $53,329,088.85. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Paul Duffy also recently made the following trade(s):

• On Friday, October 2nd, Matthew Duffy sold 39,737 shares of Neptune Insurance stock. The shares were sold at an average price of $27.67, for a total value of $1,099,522.79.

Neptune Insurance Price Performance

Shares of NP traded up $0.57 during mid-day trading on Wednesday, hitting $27.76. 404,043 shares of the company’s stock were exchanged, compared to its average volume of 598,036. The company has a market cap of $3.81 billion and a PE ratio of 111.04. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $35.15. The company has a 50-day simple moving average of $31.14 and a 200 day simple moving average of $28.95.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The business had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.38 million. On average, analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NP. Evercore reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on Neptune Insurance from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods lowered their price target on Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating on the stock in a research report on Friday, July 24th. Finally, BMO Capital Markets cut Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research note on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Neptune Insurance presently has a consensus rating of “Moderate Buy” and an average target price of $31.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NP. BlueCrest Capital Management Ltd acquired a new stake in Neptune Insurance during the 2nd quarter valued at $1,418,000. Arizona State Retirement System bought a new position in shares of Neptune Insurance in the second quarter valued at about $329,000. AXQ Capital LP acquired a new stake in shares of Neptune Insurance during the 2nd quarter worth about $296,000. Grandeur Peak Global Advisors LLC boosted its holdings in shares of Neptune Insurance by 22.0% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company’s stock worth $583,000 after buying an additional 3,339 shares during the period. Finally, Bank of America Corp DE grew its stake in Neptune Insurance by 562.1% in the 1st quarter. Bank of America Corp DE now owns 37,496 shares of the company’s stock valued at $907,000 after buying an additional 31,833 shares during the last quarter.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners’ insurance policies, which generally provide limited protection against flood damage.

The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.