Neptune Insurance (NYSE:NP) CEO Sells 43,018 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 43,018 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $29.13, for a total value of $1,253,114.34. Following the transaction, the chief executive officer owned 2,154,795 shares of the company’s stock, valued at approximately $62,769,178.35. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Performance

Shares of NP stock traded down $0.73 during mid-day trading on Thursday, reaching $27.82. 999,311 shares of the company were exchanged, compared to its average volume of 596,593. The business’s 50 day simple moving average is $29.71 and its 200 day simple moving average is $27.53. The company has a market capitalization of $3.84 billion and a P/E ratio of 86.93. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $35.15.

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

Institutional Trading of Neptune Insurance

Several institutional investors have recently added to or reduced their stakes in NP. Nisa Investment Advisors LLC raised its holdings in shares of Neptune Insurance by 41.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock worth $47,000 after purchasing an additional 503 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Neptune Insurance in the 3rd quarter worth about $105,000. State of Wyoming boosted its holdings in shares of Neptune Insurance by 80.7% in the 3rd quarter. State of Wyoming now owns 5,026 shares of the company’s stock valued at $137,000 after buying an additional 2,244 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Neptune Insurance by 73.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after buying an additional 3,146 shares during the period. Finally, AXQ Capital LP acquired a new position in shares of Neptune Insurance in the 2nd quarter valued at about $296,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NP shares. Wells Fargo & Company cut their target price on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Neptune Insurance in a research note on Wednesday, September 23rd. Morgan Stanley lowered their price objective on Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Mizuho upped their price objective on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Neptune Insurance in a report on Monday, October 19th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.29.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.

The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder’s location and eligibility.

Neptune’s business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.