Neptune Insurance (NYSE:NP) Trading Down 5.1% – Should You Sell?

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price traded down 5.1% during trading on Tuesday . The stock traded as low as $27.21 and last traded at $27.17. Approximately 90,623 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 590,642 shares. The stock had previously closed at $28.63.

Analyst Upgrades and Downgrades

NP has been the topic of several analyst reports. Evercore restated an “outperform” rating and issued a $36.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Piper Sandler boosted their price target on shares of Neptune Insurance from $30.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. BMO Capital Markets downgraded Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research report on Thursday, July 30th. Mizuho boosted their price objective on Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.82.

Neptune Insurance Stock Performance

The firm has a market capitalization of $3.66 billion and a P/E ratio of 107.05. The firm has a 50 day moving average price of $31.89 and a two-hundred day moving average price of $28.45.

Neptune Insurance (NYSE:NP) last announced its earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%.The business had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. Equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Activity

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 1,867,840 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total value of $62,049,644.80. Following the completion of the transaction, the insider directly owned 14,442,941 shares in the company, valued at $479,794,500.02. This trade represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO James Steiner sold 57,012 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $31.71, for a total transaction of $1,807,850.52. Following the sale, the chief financial officer owned 3,749,050 shares in the company, valued at $118,882,375.50. This represents a 1.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,650,000 shares of company stock valued at $120,971,418. Corporate insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NP. Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in shares of Neptune Insurance during the 4th quarter valued at $569,509,000. Capital World Investors purchased a new position in Neptune Insurance in the fourth quarter valued at about $32,091,000. Azora Capital LP acquired a new position in Neptune Insurance in the 4th quarter worth about $21,695,000. Capital International Investors purchased a new stake in shares of Neptune Insurance during the 4th quarter worth about $20,412,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Neptune Insurance by 874.4% during the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after buying an additional 144,210 shares during the last quarter.

About Neptune Insurance

Neptune Insurance, commonly known as Neptune Flood, is a U.S.-focused insurtech company specializing in private flood insurance. Its products are designed to provide alternatives to coverage available through the National Flood Insurance Program and may cover residential properties, personal belongings, additional living expenses and certain commercial properties, subject to policy terms and availability.

The company distributes its insurance through independent agents and uses technology to support quoting, underwriting and policy administration.