Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 66,568 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 66,568 shares of Neptune Insurance stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $27.68, for a total transaction of $1,842,602.24. Following the sale, the chief executive officer directly owned 1,906,951 shares in the company, valued at $52,784,403.68. The trade was a 3.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

Shares of NYSE NP opened at $28.15 on Tuesday. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $35.15. The stock has a market capitalization of $3.89 billion and a P/E ratio of 69.63. The company’s 50-day moving average is $29.34 and its 200 day moving average is $27.56.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $59.57 million during 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%. Research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Neptune Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of NP. Renaissance Technologies LLC lifted its holdings in shares of Neptune Insurance by 874.4% during the first 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 during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Neptune Insurance in the 1st quarter worth approximately $1,531,000. Swiss National Bank purchased a new stake in shares of Neptune Insurance in the 1st quarter worth approximately $1,132,000. BlueCrest Capital Management Ltd bought a new position in Neptune Insurance during the 2nd quarter valued at approximately $1,418,000. Finally, Sei Investments Co. increased its position in Neptune Insurance by 203.3% during the 1st quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock valued at $1,430,000 after buying an additional 39,626 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on NP shares. Evercore restated an “outperform” rating and issued a $36.00 target price on shares of Neptune Insurance in a research note on Wednesday, July 22nd. BMO Capital Markets cut Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Thursday, July 30th. 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. Weiss Ratings raised Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price 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. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Neptune Insurance has an average rating of “Moderate Buy” and a consensus target price of $32.29.

Neptune Insurance Company Profile

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.