Neptune Insurance (NYSE:NP) Insider Matthew Paul Duffy Sells 88,000 Shares of Company Stock

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 88,000 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $28.03, for a total transaction of $2,466,640.00. Following the transaction, the insider owned 1,791,798 shares of the company’s stock, valued at $50,224,097.94. This represents a 4.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, November 10th, Matthew Duffy sold 86,000 shares of Neptune Insurance stock. The stock was sold at an average price of $28.04, for a total transaction of $2,411,440.00.
• On Thursday, October 8th, Matthew Duffy sold 84,441 shares of Neptune Insurance stock. The shares were sold at an average price of $28.10, for a total transaction of $2,372,792.10.
• On Tuesday, October 6th, Matthew Duffy sold 41,392 shares of Neptune Insurance stock. The shares were sold at an average price of $27.15, for a total transaction of $1,123,792.80.
• 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 transaction of $1,099,522.79.

Neptune Insurance Stock Up 0.2%

NYSE NP traded up $0.06 on Thursday, hitting $28.54. The stock had a trading volume of 311,749 shares, compared to its average volume of 597,093. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $35.15. The stock has a market cap of $3.94 billion and a price-to-earnings ratio of 89.18. The company’s 50-day moving average is $29.15 and its two-hundred day moving average is $27.60.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $59.57 million for the quarter, compared to analyst estimates of $56.59 million. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. On average, sell-side analysts anticipate that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current year.

Institutional Trading of Neptune Insurance

A number of institutional investors have recently made changes to their positions in NP. Public Sector Pension Investment Board acquired a new position in shares of Neptune Insurance during the third quarter valued at approximately $6,017,000. USS Investment Management Ltd lifted its position in Neptune Insurance by 152.0% in the third quarter. USS Investment Management Ltd now owns 311,686 shares of the company’s stock worth $8,523,000 after purchasing an additional 187,996 shares during the period. Renaissance Technologies LLC boosted its stake in Neptune Insurance by 874.4% during the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after purchasing an additional 144,210 shares in the last quarter. Fifth Third Bancorp bought a new position in Neptune Insurance during the 1st quarter valued at $1,531,000. Finally, Swiss National Bank bought a new position in Neptune Insurance during the 1st quarter valued at $1,132,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on NP. Mizuho increased their price objective on Neptune Insurance from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. BMO Capital Markets downgraded Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research note on Thursday, July 30th. Piper Sandler reiterated an “overweight” rating on shares of Neptune Insurance in a research report on Monday, October 19th. Keefe, Bruyette & Woods increased their price target on Neptune Insurance from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 21st. Finally, Weiss Ratings raised Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Neptune Insurance presently has an average rating of “Moderate Buy” and a consensus target price of $32.29.

About Neptune Insurance

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution. Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States. Founder Trevor Burgess has served as the company’s chief executive officer.