Insider Selling: Neptune Insurance (NYSE:NP) Insider Sells $1,099,522.79 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Paul Duffy sold 39,737 shares of Neptune Insurance stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $27.67, for a total value of $1,099,522.79. Following the transaction, the insider owned 2,005,631 shares of the company’s stock, valued at $55,495,809.77. The trade was a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Trading Down 1.0%

NYSE:NP traded down $0.28 on Monday, hitting $27.14. The company’s stock had a trading volume of 433,458 shares, compared to its average volume of 597,226. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $35.15. The firm has a market capitalization of $3.73 billion and a P/E ratio of 108.58. The stock has a fifty day moving average of $31.31 and a two-hundred day moving average of $28.90.

Neptune Insurance (NYSE:NP) last issued its earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. As a group, sell-side analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NP. BlueCrest Capital Management Ltd acquired a new stake in shares of Neptune Insurance during the second quarter worth $1,418,000. Arizona State Retirement System acquired a new position in shares of Neptune Insurance in the second quarter valued at about $329,000. AXQ Capital LP acquired a new position in shares of Neptune Insurance in the second quarter valued at about $296,000. Grandeur Peak Global Advisors LLC increased its position in Neptune Insurance by 22.0% during the second quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company’s stock worth $583,000 after acquiring an additional 3,339 shares during the period. Finally, Bank of America Corp DE raised 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 worth $907,000 after purchasing an additional 31,833 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have commented on NP shares. JPMorgan Chase & Co. upped their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Mizuho raised their target price on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Wells Fargo & Company upped their price target on shares of Neptune Insurance from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Neptune Insurance from a “sell (d)” rating to a “hold (c)” rating in a report on Friday, July 31st. Finally, Evercore restated an “outperform” rating and set a $36.00 price objective on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.82.

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.