Key Points
- Insider Matthew Paul Duffy sold 84,441 Neptune Insurance shares at an average price of $28.10, generating $2.37 million. The Rule 10b5-1 transaction reduced his ownership by 4.3% to 1.88 million shares.
- Duffy also sold more than 81,000 shares in two earlier October transactions, bringing his recent sales to roughly 165,000 shares.
- Neptune recently beat quarterly earnings and revenue estimates, while analysts maintain a “Moderate Buy” consensus with an average price target of $31.75 versus the stock’s reported $28.64 opening price.
Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) insider Matthew Duffy sold 84,441 shares of the business's stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $28.10, for a total transaction of $2,372,792.10. Following the completion of the sale, the insider directly owned 1,879,798 shares of the company's stock, valued at approximately $52,822,323.80. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $1,099,522.79.
Neptune Insurance Stock Performance
NP opened at $28.64 on Friday. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $35.15. The stock has a market capitalization of $3.93 billion and a P/E ratio of 114.55. The business's 50-day simple moving average is $30.87 and its 200-day simple moving average is $29.04.
Neptune Insurance (NYSE:NP - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. The firm had revenue of $55.87 million during the quarter, compared to analysts' expectations of $52.38 million. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. On average, equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.40 EPS for the current fiscal year.
Institutional Investors Weigh In On Neptune Insurance
Large investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd acquired a new stake in shares of Neptune Insurance during the second quarter worth $1,418,000. Arizona State Retirement System purchased a new position in Neptune Insurance in the 2nd quarter valued at $329,000. AXQ Capital LP acquired a new position in Neptune Insurance in the 2nd quarter valued at $296,000. Grandeur Peak Global Advisors LLC increased its stake in Neptune Insurance by 22.0% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company's stock valued at $583,000 after buying an additional 3,339 shares during the period. Finally, Bank of America Corp DE raised its position in Neptune Insurance by 562.1% during the 1st quarter. Bank of America Corp DE now owns 37,496 shares of the company's stock worth $907,000 after buying an additional 31,833 shares during the last quarter.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on NP. Mizuho lowered their target price on shares of Neptune Insurance from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Neptune Insurance in a research report on Wednesday, September 23rd. Evercore reissued an "outperform" rating and set a $36.00 price objective on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Weiss Ratings lowered shares of Neptune Insurance from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday. Finally, Morgan Stanley raised shares of Neptune Insurance from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $31.00 to $36.00 in a report on Wednesday, August 19th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Neptune Insurance currently has an average rating of "Moderate Buy" and a consensus price target of $31.75.
Get Our Latest Stock Report on NP
Neptune Insurance Company Profile
(
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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