Neptune Insurance (NYSE:NP) Shares Gap Up – Should You Buy?

Neptune Insurance Holdings Inc. (NYSE:NP)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $25.15, but opened at $27.33. Neptune Insurance shares last traded at $27.2620, with a volume of 22,949 shares changing hands.

Wall Street Analyst Weigh In

NP has been the topic of several analyst reports. Piper Sandler dropped their target price on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Keefe, Bruyette & Woods upped their target price on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. BMO Capital Markets raised 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 research report on Friday, February 13th. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Finally, Mizuho increased their price target on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.73.

Neptune Insurance Stock Performance

The stock has a fifty day simple moving average of $26.67 and a two-hundred day simple moving average of $25.19. The stock has a market capitalization of $3.78 billion and a price-to-earnings ratio of 101.10.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The company’s quarterly revenue was up 28.8% on a year-over-year basis. Research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the completion of the sale, the insider directly owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. This trade represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Trevor R. Burgess purchased 50,000 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $18.71 per share, with a total value of $935,500.00. Following the completion of the acquisition, the chief executive officer owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. This trade represents a 2.46% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 11,317,604 shares of company stock worth $298,784,746. Company insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at about $125,000. FNY Investment Advisers LLC acquired a new stake in shares of Neptune Insurance in the 3rd quarter valued at about $171,000. Symmetry Investments LP acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at about $204,000. Finally, FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at about $289,000.

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.