Neptune Insurance (NYSE:NP) CEO Sells $1,842,602.24 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 66,568 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $27.68, for a total value of $1,842,602.24. Following the sale, the chief executive officer owned 1,906,951 shares in the company, valued at $52,784,403.68. The trade was a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

Shares of NYSE:NP traded up $0.24 during midday trading on Monday, reaching $28.15. The company’s stock had a trading volume of 876,926 shares, compared to its average volume of 598,857. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $35.15. The company has a market capitalization of $3.89 billion and a P/E ratio of 87.96. The business’s fifty day simple moving average is $29.46 and its 200-day simple moving average is $27.55.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share (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 net margin of 22.71% and a negative return on equity of 26.63%. On average, analysts forecast that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Neptune Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NP. Nisa Investment Advisors LLC raised its holdings in 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 purchasing an additional 503 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Neptune Insurance in the 3rd quarter valued at about $105,000. State of Wyoming boosted its stake in shares of Neptune Insurance by 80.7% in the 3rd quarter. State of Wyoming now owns 5,026 shares of the company’s stock valued at $137,000 after purchasing an additional 2,244 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Neptune Insurance by 73.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after purchasing an additional 3,146 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Neptune Insurance during the 2nd quarter worth approximately $296,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Neptune Insurance in a research note on Monday, October 19th. Morgan Stanley decreased their price target on shares of Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Mizuho boosted their price objective on shares of Neptune Insurance from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Wells Fargo & Company dropped their price objective on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. upped their price objective on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.29.

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.