Neptune Insurance (NYSE:NP) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Neptune Insurance Holdings Inc. (NYSE:NP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.87 and traded as high as $26.83. Neptune Insurance shares last traded at $25.0750, with a volume of 203,812 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NP shares. Morgan Stanley cut their price target on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Evercore set a $30.00 price target on shares of Neptune Insurance in a report on Thursday, February 19th. Bank of America raised their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Piper Sandler cut their price target on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.42.

Neptune Insurance Trading Down 1.0%

The firm has a market cap of $3.44 billion and a P/E ratio of 92.11. The business’s fifty day moving average price is $23.62 and its two-hundred day moving average price is $24.87.

Neptune Insurance (NYSE:NP) last announced its earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $37.80 million during the quarter, compared to the consensus estimate of $36.96 million. The company’s revenue was up 28.8% on a year-over-year basis. Research analysts predict that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Neptune Insurance

In other news, CEO Trevor R. Burgess bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $18.71 per share, for a total transaction of $935,500.00. Following the acquisition, the chief executive officer directly owned 2,082,964 shares of the company’s stock, valued at $38,972,256.44. The trade was a 2.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael Warren Vostrizansky bought 23,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $494,500.00. Following the acquisition, the director directly owned 23,000 shares in the company, valued at approximately $494,500. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Neptune Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN acquired a new stake in Neptune Insurance in the 4th quarter worth $28,000. PNC Financial Services Group Inc. acquired a new stake in Neptune Insurance in the 4th quarter worth $125,000. FNY Investment Advisers LLC acquired a new stake in Neptune Insurance in the 3rd quarter worth $171,000. Symmetry Investments LP acquired a new stake in Neptune Insurance in the 4th quarter worth $204,000. Finally, FJ Capital Management LLC acquired a new stake in Neptune Insurance in the 4th quarter worth $289,000.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.