Key Points
- Neptune Insurance CEO Trevor Burgess sold 104,717 shares for about $2.91 million, reducing his stake by 5.04% to 1,973,519 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The company beat quarterly estimates, reporting earnings of $0.17 per share and revenue of $59.57 million, versus analyst expectations of $0.16 and $56.59 million, respectively.
- Analysts have a “Moderate Buy” consensus rating and an average price target of $32.29; seven rate the shares Buy and six Hold.
Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CEO Trevor Burgess sold 66,568 shares of Neptune Insurance stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $27.68, for a total value of $1,842,602.24. Following the completion of the transaction, the chief executive officer directly owned 1,906,951 shares of the company's stock, valued at approximately $52,784,403.68. This represents a 3.37% decrease in their position. The transaction 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.
Neptune Insurance Price Performance
Shares of Neptune Insurance stock opened at $28.15 on Tuesday. The stock has a market cap of $3.89 billion and a price-to-earnings ratio of 69.63. The firm's 50-day moving average is $29.34 and its 200 day moving average is $27.56. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $35.15.
Neptune Insurance (NYSE:NP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $59.57 million for the quarter, compared to the consensus estimate of $56.59 million. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. On average, equities analysts expect that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current fiscal year.
Analyst Ratings Changes
NP has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on Neptune Insurance from $37.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. Evercore reaffirmed an "outperform" rating and set a $36.00 price target on shares of Neptune Insurance in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Neptune Insurance in a research report on Wednesday, September 23rd. BMO Capital Markets downgraded Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price objective for the company. in a report on Thursday, July 30th. Finally, Piper Sandler reissued an "overweight" rating on shares of Neptune Insurance in a research report on Monday, October 19th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.29.
Get Our Latest Stock Analysis on NP
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in Neptune Insurance by 41.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company's stock valued at $47,000 after purchasing an additional 503 shares during the period. State of Alaska Department of Revenue bought a new stake in Neptune Insurance in the 3rd quarter worth approximately $105,000. State of Wyoming grew its position in Neptune Insurance by 80.7% in the 3rd quarter. State of Wyoming now owns 5,026 shares of the company's stock worth $137,000 after purchasing an additional 2,244 shares during the period. PNC Financial Services Group Inc. raised its stake in Neptune Insurance by 73.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock valued at $180,000 after buying an additional 3,146 shares during the last quarter. Finally, AXQ Capital LP purchased a new stake in Neptune Insurance during the 2nd quarter valued at $296,000.
About Neptune Insurance
(
Get Free Report)
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.
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