Neptune Insurance (NYSE:NP) Insider Matthew Paul Duffy Sells 84,441 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 84,441 shares of the stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $28.10, for a total transaction of $2,372,792.10. Following the sale, the insider directly owned 1,879,798 shares in the company, valued at $52,822,323.80. This represents a 4.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Paul Duffy also recently made the following trade(s):

• On Tuesday, October 6th, Matthew Duffy sold 41,392 shares of Neptune Insurance stock. The shares were sold at an average price of $27.15, for a total transaction of $1,123,792.80.
• On Friday, October 2nd, Matthew Duffy sold 39,737 shares of Neptune Insurance stock. The stock was sold at an average price of $27.67, for a total transaction of $1,099,522.79.

Neptune Insurance Stock Up 0.7%

Neptune Insurance stock opened at $28.64 on Friday. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $35.15. The firm has a market cap of $3.93 billion and a PE ratio of 114.55. The company’s 50 day moving average is $30.87 and its two-hundred day moving average is $29.04.

Neptune Insurance (NYSE:NP) last posted its quarterly 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. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The business had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. On average, equities research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.40 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on NP shares. BMO Capital Markets downgraded Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price objective on Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Neptune Insurance in a research report on Wednesday, September 23rd. Evercore restated an “outperform” rating and set a $36.00 target price on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Finally, Mizuho reduced their target price on shares of Neptune Insurance from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.75.

Institutional Trading of Neptune Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bregal Sagemount IV General Partner Jersey Ltd purchased a new position in shares of Neptune Insurance in the 4th quarter valued at about $569,509,000. Azora Capital LP purchased a new stake in Neptune Insurance during the fourth quarter worth approximately $21,695,000. Renaissance Technologies LLC boosted its holdings in Neptune Insurance by 874.4% in 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 in the last quarter. Maltese Capital Management LLC boosted its holdings in Neptune Insurance by 37.5% in the fourth quarter. Maltese Capital Management LLC now owns 137,500 shares of the company’s stock valued at $4,009,000 after purchasing an additional 37,500 shares in the last quarter. Finally, Walleye Capital LLC increased its stake in Neptune Insurance by 17.3% in the first quarter. Walleye Capital LLC now owns 135,364 shares of the company’s stock valued at $3,274,000 after purchasing an additional 20,000 shares during the last quarter.

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.