Neptune Insurance (NYSE:NP) Director Sells 50,000 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) Director Jonathan Carlon sold 50,000 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $31.15, for a total transaction of $1,557,500.00. Following the completion of the sale, the director owned 603,500 shares of the company’s stock, valued at approximately $18,799,025. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Neptune Insurance Price Performance

Shares of NYSE NP traded down $0.54 during midday trading on Tuesday, reaching $30.79. The company’s stock had a trading volume of 383,269 shares, compared to its average volume of 593,040. The stock has a market capitalization of $4.23 billion and a P/E ratio of 123.17. The firm has a 50 day moving average price of $32.12 and a 200-day moving average price of $28.13. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $35.15.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 EPS 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 company had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. On average, equities analysts predict that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NP. Keefe, Bruyette & Woods reduced 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 research report on Friday, July 24th. Piper Sandler upped their price objective on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. 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 report on Thursday, July 30th. Morgan Stanley raised Neptune Insurance from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $31.00 to $36.00 in a report on Wednesday, August 19th. Finally, Wells Fargo & Company raised their target price on Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.82.

Institutional Investors Weigh In On Neptune Insurance

Large investors have recently added to or reduced their stakes in the business. BlueCrest Capital Management Ltd bought a new position in shares of Neptune Insurance in the second quarter worth approximately $1,418,000. Arizona State Retirement System bought a new stake in Neptune Insurance during the second quarter valued at approximately $329,000. AXQ Capital LP bought a new stake in Neptune Insurance during the second quarter valued at approximately $296,000. Grandeur Peak Global Advisors LLC grew 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 worth $583,000 after buying an additional 3,339 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Neptune Insurance by 562.1% in 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 in the last quarter.

About Neptune Insurance

Neptune Insurance, commonly known as Neptune Flood, is a U.S.-focused insurtech company specializing in private flood insurance. Its products are designed to provide alternatives to coverage available through the National Flood Insurance Program and may cover residential properties, personal belongings, additional living expenses and certain commercial properties, subject to policy terms and availability.

The company distributes its insurance through independent agents and uses technology to support quoting, underwriting and policy administration.