Key Points
- Insider sale: Matthew Paul Duffy sold 41,392 Neptune Insurance shares for approximately $1.12 million under a pre-arranged Rule 10b5-1 plan, reducing his stake by 2.06% to 1.96 million shares. He also sold 39,737 shares several days earlier.
- Recent performance: Neptune shares opened at $27.76, while the company’s latest quarterly results exceeded expectations with earnings of $0.15 per share and revenue of $55.87 million.
- Analyst outlook: Wall Street maintains a “Moderate Buy” consensus, with eight Buy ratings and seven Holds and an average price target of $31.75, implying potential upside from the reported trading price.
Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) insider Matthew Duffy sold 41,392 shares of Neptune Insurance stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $27.15, for a total value of $1,123,792.80. Following the completion of the sale, the insider directly owned 1,964,239 shares in the company, valued at $53,329,088.85. This represents a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthew Paul Duffy also recently made the following trade(s):
- 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 value of $1,099,522.79.
Neptune Insurance Trading Up 2.1%
Shares of NP stock opened at $27.76 on Thursday. The stock has a 50 day simple moving average of $31.00 and a 200-day simple moving average of $28.99. The company has a market cap of $3.81 billion and a price-to-earnings ratio of 111.04. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $35.15.
Neptune Insurance (NYSE:NP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. On average, equities analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd purchased a new stake in shares of Neptune Insurance in the 2nd quarter worth about $1,418,000. Arizona State Retirement System purchased a new position in Neptune Insurance during the 2nd quarter valued at about $329,000. AXQ Capital LP purchased a new position in Neptune Insurance during the 2nd quarter valued at about $296,000. Grandeur Peak Global Advisors LLC raised its position in Neptune Insurance by 22.0% during the second quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company's stock worth $583,000 after acquiring an additional 3,339 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Neptune Insurance by 562.1% during the first quarter. Bank of America Corp DE now owns 37,496 shares of the company's stock worth $907,000 after acquiring an additional 31,833 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on NP. Morgan Stanley raised shares of Neptune Insurance from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $31.00 to $36.00 in a research note on Wednesday, August 19th. Evercore reissued an "outperform" rating and set a $36.00 price objective on shares of Neptune Insurance in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Neptune Insurance from a "sell (d)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods dropped their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on Neptune Insurance from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.75.
Get Our Latest Stock Analysis on NP
About Neptune Insurance
(
Get Free Report)
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.
Further Reading
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