Neptune Insurance (NYSE:NP) Stock: Insider Matthew Paul Duffy Sells 88,000 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 88,000 shares of Neptune Insurance stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $28.03, for a total value of $2,466,640.00. Following the completion of the sale, the insider owned 1,791,798 shares of the company’s stock, valued at $50,224,097.94. This trade represents a 4.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, November 10th, Matthew Duffy sold 86,000 shares of Neptune Insurance stock. The shares were sold at an average price of $28.04, for a total transaction of $2,411,440.00.
• 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 stock was 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 transaction of $1,099,522.79.

Neptune Insurance Stock Performance

Neptune Insurance stock opened at $28.39 on Friday. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $35.15. The firm has a 50 day moving average price of $28.96 and a 200 day moving average price of $27.63. The company has a market cap of $3.92 billion and a price-to-earnings ratio of 88.71.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $59.57 million during the quarter, compared to analyst estimates of $56.59 million. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. Sell-side analysts predict that Neptune Insurance Holdings Inc. will post 0.42 EPS for the current year.

Institutional Investors Weigh In On Neptune Insurance

Several institutional investors have recently bought and sold shares of NP. Public Sector Pension Investment Board purchased a new position in shares of Neptune Insurance in the 3rd quarter valued at $6,017,000. USS Investment Management Ltd boosted its position in Neptune Insurance by 152.0% during the 3rd quarter. USS Investment Management Ltd now owns 311,686 shares of the company’s stock worth $8,523,000 after purchasing an additional 187,996 shares during the period. Renaissance Technologies LLC boosted its position in Neptune Insurance by 874.4% during the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after purchasing an additional 144,210 shares during the period. Fifth Third Bancorp acquired a new stake in Neptune Insurance in the 1st quarter valued at $1,531,000. Finally, Swiss National Bank acquired a new stake in Neptune Insurance in the 1st quarter valued at $1,132,000.

Analysts Set New Price Targets

NP has been the topic of several research reports. Mizuho cut their target price on Neptune Insurance from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday. Piper Sandler reissued an “overweight” rating on shares of Neptune Insurance in a research report on Monday, October 19th. Deutsche Bank restated a “buy” rating on shares of Neptune Insurance in a research note 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 on the stock. in a report on Thursday, July 30th. Finally, Wells Fargo & Company cut their price objective on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.12.

About Neptune Insurance

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.