Neptune Insurance (NYSE:NP) Sees Strong Trading Volume – Should You Buy?

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) saw strong trading volume on Thursday . 1,275,988 shares changed hands during trading, an increase of 212% from the previous session’s volume of 409,243 shares.The stock last traded at $27.1560 and had previously closed at $27.94.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $25.00 to $20.00 in a report on Friday, February 13th. Bank of America increased their price target on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Finally, Evercore reissued an “outperform” rating on shares of Neptune Insurance in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.42.

Neptune Insurance Stock Performance

The firm has a market capitalization of $3.81 billion and a PE ratio of 101.90. The stock has a fifty day moving average price of $24.62 and a 200-day moving average price of $24.96.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $36.96 million. The business’s quarterly revenue was up 28.8% on a year-over-year basis. Research analysts expect that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neptune Insurance news, Director Michael Warren Vostrizansky acquired 23,000 shares of the stock in a transaction dated Friday, February 20th. The stock was purchased at an average price of $21.50 per share, with a total value of $494,500.00. Following the transaction, the director directly owned 23,000 shares of the company’s stock, valued at $494,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Trevor R. Burgess acquired 50,000 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $18.71 per share, with a total value of $935,500.00. Following the transaction, the chief executive officer directly owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. This represents a 2.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 74.26% of the stock is owned by company insiders.

Institutional Trading of Neptune Insurance

Institutional investors have recently made changes to their positions in the business. Maltese Capital Management LLC acquired a new stake in shares of Neptune Insurance in the 3rd quarter worth $3,200,000. Comerica Bank acquired a new stake in Neptune Insurance during the 4th quarter worth about $1,507,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Neptune Insurance during the 4th quarter worth about $2,068,000. Massachusetts Financial Services Co. MA acquired a new stake in Neptune Insurance during the 4th quarter worth about $759,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Neptune Insurance during the 3rd quarter worth about $792,000.

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.