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

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 88,000 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $28.03, for a total transaction of $2,466,640.00. Following the completion of the transaction, the insider owned 1,791,798 shares in the company, valued at approximately $50,224,097.94. The trade was a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 Trading Up 0.2%

Neptune Insurance stock 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 business’s 50 day simple moving average is $29.06 and its 200 day simple moving average is $27.61. The company has a market cap of $3.94 billion and a price-to-earnings ratio of 69.46.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. The business had revenue of $59.57 million during the quarter, compared to analyst estimates of $56.59 million. As a group, equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NP shares. Keefe, Bruyette & Woods increased their price target on Neptune Insurance from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 21st. Evercore restated an “outperform” rating and issued a $36.00 price objective on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Deutsche Bank reaffirmed a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Piper Sandler reiterated an “overweight” rating on shares of Neptune Insurance in a research report on Monday, October 19th. Finally, Morgan Stanley reduced their target price on shares of Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

Institutional Investors Weigh In On Neptune Insurance

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

Neptune Insurance Company Profile

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.