Neptune Insurance (NYSE:NP) Insider Sells 86,000 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) insider Matthew Duffy sold 86,000 shares of the company's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $28.04, for a total transaction of $2,411,440.00. Following the completion of the sale, the insider directly owned 1,705,798 shares of the company's stock, valued at $47,830,575.92. The trade was a 4.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, November 9th, Matthew Duffy sold 88,000 shares of Neptune Insurance stock. The stock was sold at an average price of $28.03, for a total transaction of $2,466,640.00.
• On Thursday, October 8th, Matthew Duffy sold 84,441 shares of Neptune Insurance stock. The stock was sold at an average price of $28.10, for a total transaction of $2,372,792.10.
• 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 shares were sold at an average price of $27.67, for a total transaction of $1,099,522.79.

Neptune Insurance Stock Up 0.2%

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NP opened at $28.54 on Friday. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $35.15. The company has a fifty day simple moving average of $29.06 and a 200 day simple moving average of $27.61. The stock has a market cap of $3.94 billion and a P/E ratio of 69.46.

Neptune Insurance (NYSE:NP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $59.57 million for the quarter, compared to the consensus estimate of $56.59 million. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. On average, equities research analysts expect that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley lowered their price target on Neptune Insurance from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, October 22nd. Deutsche Bank reiterated a "buy" rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. BMO Capital Markets lowered Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price objective for the company. in a research report on Thursday, July 30th. Weiss Ratings raised Neptune Insurance from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Neptune Insurance from $37.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, October 12th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Neptune Insurance has an average rating of "Moderate Buy" and a consensus price target of $32.29.

Get Our Latest Report on NP

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. USS Investment Management Ltd raised its position in Neptune Insurance by 152.0% in the 3rd quarter. USS Investment Management Ltd now owns 311,686 shares of the company's stock valued at $8,523,000 after buying an additional 187,996 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in Neptune Insurance during the 3rd quarter worth approximately $6,017,000. Fifth Third Bancorp boosted its position in Neptune Insurance by 30.2% during the 3rd quarter. Fifth Third Bancorp now owns 82,615 shares of the company's stock worth $2,260,000 after acquiring an additional 19,165 shares during the last quarter. State of Wyoming boosted its position in Neptune Insurance by 80.7% during the 3rd quarter. State of Wyoming now owns 5,026 shares of the company's stock worth $137,000 after acquiring an additional 2,244 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Neptune Insurance by 41.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company's stock worth $47,000 after acquiring an additional 503 shares in the last quarter.

Neptune Insurance Company Profile

(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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