Neptune Insurance (NYSE:NP) Shares Up 5.7% – Time to Buy?

Neptune Insurance Holdings Inc. (NYSE:NP)’s share price rose 5.7% during trading on Thursday . The stock traded as high as $24.42 and last traded at $24.55. Approximately 71,585 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 403,491 shares. The stock had previously closed at $23.22.

Analyst Upgrades and Downgrades

NP has been the topic of several recent analyst reports. Raymond James Financial set a $24.00 price target on Neptune Insurance in a research report on Monday, February 23rd. Evercore set a $30.00 price objective on Neptune Insurance in a research report on Thursday, February 19th. Piper Sandler lowered their target price on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Deutsche Bank Aktiengesellschaft upped their target price on Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $26.00 to $25.00 in a report on Thursday, February 19th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Neptune Insurance Stock Down 2.5%

The stock’s 50 day moving average price is $22.25 and its two-hundred day moving average price is $25.69. The firm has a market capitalization of $3.19 billion and a price-to-earnings ratio of 105.12.

Neptune Insurance (NYSE:NP) last issued its earnings results on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $43.77 million during the quarter, compared to analysts’ expectations of $39.42 million.

Insider Activity

In other Neptune Insurance news, CEO Trevor R. Burgess acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $18.71 per share, with a total value of $935,500.00. Following the completion of the transaction, the chief executive officer owned 2,082,964 shares in the company, valued at $38,972,256.44. The trade was a 2.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Warren Vostrizansky bought 23,000 shares of Neptune Insurance stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $21.50 per share, with a total value of $494,500.00. Following the completion of the purchase, the director directly owned 23,000 shares of the company’s stock, valued at approximately $494,500. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at $569,509,000. T. Rowe Price Investment Management Inc. acquired a new position in Neptune Insurance during the fourth quarter worth $133,488,000. Vanguard Group Inc. bought a new position in Neptune Insurance during the fourth quarter valued at about $47,063,000. Capital World Investors acquired a new stake in shares of Neptune Insurance in the fourth quarter worth about $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Neptune Insurance in the fourth quarter worth about $29,051,000.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.