Neptune Insurance (NYSE:NP) Stock: Insider Trevor Burgess Sells 104,717 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 104,717 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $27.75, for a total transaction of $2,905,896.75. Following the transaction, the chief executive officer directly owned 1,973,519 shares of the company’s stock, valued at $54,765,152.25. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Performance

Shares of Neptune Insurance stock opened at $28.22 on Wednesday. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $35.15. The firm has a 50-day simple moving average of $29.24 and a two-hundred day simple moving average of $27.58. The company has a market cap of $3.90 billion and a P/E ratio of 88.20.

Neptune Insurance (NYSE:NP) last announced its earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $56.59 million. Equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Neptune Insurance

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlueCrest Capital Management Ltd bought a new position in Neptune Insurance in the 2nd quarter worth approximately $1,418,000. Sei Investments Co. grew its holdings in shares of Neptune Insurance by 203.3% in the 1st quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock worth $1,430,000 after acquiring an additional 39,626 shares during the last quarter. Bank of America Corp DE raised its holdings in Neptune Insurance by 562.1% during the 1st quarter. Bank of America Corp DE now owns 37,496 shares of the company’s stock worth $907,000 after buying an additional 31,833 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Neptune Insurance by 874.4% during the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after acquiring an additional 144,210 shares during the period. Finally, SummitTX Capital L.P. purchased a new stake in shares of Neptune Insurance in the first quarter valued at $898,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NP shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Neptune Insurance in a research report on Wednesday, September 23rd. Mizuho lifted their target price on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Evercore reiterated an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Weiss Ratings raised Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Neptune Insurance from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, October 21st. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

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.