Neptune Insurance (NYSE:NP) Shares Up 9.5% – Here’s Why

Neptune Insurance Holdings Inc. (NYSE:NP) shares traded up 9.5% during mid-day trading on Friday . The stock traded as high as $19.84 and last traded at $19.9150. 91,046 shares changed hands during trading, a decline of 77% from the average session volume of 403,144 shares. The stock had previously closed at $18.19.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Neptune Insurance from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $32.50 target price on shares of Neptune Insurance in a report on Wednesday, January 7th. Evercore set a $30.00 target price on shares of Neptune Insurance in a research note on Thursday, February 19th. BMO Capital Markets upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $25.00 to $20.00 in a report on Friday, February 13th. Finally, Bank of America upgraded shares of Neptune Insurance from an “underperform” rating to a “neutral” rating and set a $23.00 price target on the stock in a research note on Friday, February 20th. Eight 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Neptune Insurance Trading Up 9.2%

The firm has a market cap of $2.74 billion and a P/E ratio of 89.93. The stock has a 50 day simple moving average of $23.24 and a 200-day simple moving average of $26.40.

Neptune Insurance (NYSE:NP) last posted its earnings results on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $43.77 million for the quarter, compared to the consensus estimate of $39.42 million.

Insider Buying and Selling

In other Neptune Insurance news, Director Michael Warren Vostrizansky acquired 23,000 shares of the stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $21.50 per share, for a total transaction of $494,500.00. Following the completion of 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neptune Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance in the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new position in shares of Neptune Insurance during the 4th quarter valued at approximately $125,000. FNY Investment Advisers LLC purchased a new stake in Neptune Insurance during the 3rd quarter valued at $171,000. Symmetry Investments LP bought a new stake in Neptune Insurance in the fourth quarter worth $204,000. Finally, FJ Capital Management LLC purchased a new position in Neptune Insurance during the fourth quarter worth $289,000.

Neptune Insurance Company Profile

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.