Neptune Insurance (NYSE:NP) Stock: Insider Trevor Burgess Sells 4,431 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 4,431 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $27.63, for a total value of $122,428.53. Following the sale, the chief executive officer directly owned 1,902,520 shares in the company, valued at $52,566,627.60. This represents a 0.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

Neptune Insurance stock opened at $28.41 on Thursday. The firm has a market cap of $3.93 billion and a PE ratio of 68.83. The stock’s fifty day moving average price is $29.15 and its two-hundred day moving average price is $27.60. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $35.15.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Deutsche Bank reissued a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Mizuho boosted their target price on shares of Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. BMO Capital Markets downgraded shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a report on Thursday, July 30th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Neptune Insurance in a research report on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.29.

Hedge Funds Weigh In On Neptune Insurance

A number of institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake in Neptune Insurance by 41.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock valued at $47,000 after buying an additional 503 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Neptune Insurance during the third quarter worth about $105,000. State of Wyoming raised its stake in Neptune Insurance by 80.7% during the third quarter. State of Wyoming now owns 5,026 shares of the company’s stock worth $137,000 after acquiring an additional 2,244 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Neptune Insurance by 73.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after acquiring an additional 3,146 shares in the last quarter. Finally, AXQ Capital LP bought a new position in shares of Neptune Insurance in the second quarter worth about $296,000.

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.