Neptune Insurance (NYSE:NP) Insider Matthew Paul Duffy Sells 86,000 Shares of Company Stock

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 86,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $28.04, for a total transaction of $2,411,440.00. Following the completion of the transaction, the insider owned 1,705,798 shares of the company’s stock, valued at $47,830,575.92. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Matthew Paul Duffy also recently made the following trade(s):

• On Monday, November 9th, Matthew Duffy sold 88,000 shares of Neptune Insurance stock. The stock was sold at an average price of $28.03, for a total value of $2,466,640.00.
• On Thursday, October 8th, Matthew Duffy sold 84,441 shares of Neptune Insurance stock. The shares were sold at an average price of $28.10, for a total value of $2,372,792.10.
• On Tuesday, October 6th, Matthew Duffy sold 41,392 shares of Neptune Insurance stock. The shares were sold at an average price of $27.15, for a total value of $1,123,792.80.
• On Friday, October 2nd, Matthew Duffy sold 39,737 shares of Neptune Insurance stock. The shares were sold at an average price of $27.67, for a total value of $1,099,522.79.

Neptune Insurance Stock Up 0.2%

NP stock opened at $28.54 on Friday. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $35.15. The company has a market cap of $3.94 billion and a P/E ratio of 69.46. The business has a fifty day moving average of $29.06 and a 200-day moving average of $27.61.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $59.57 million for the quarter, compared to analysts’ expectations of $56.59 million. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. As a group, equities research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on NP. Evercore restated an “outperform” rating and set a $36.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Morgan Stanley lowered their price target on shares of Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Piper Sandler reissued an “overweight” rating on shares of Neptune Insurance in a research note on Monday, October 19th. Mizuho boosted their price target on shares of Neptune Insurance from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company cut their price objective on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.29.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in Neptune Insurance by 41.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock valued at $47,000 after purchasing an additional 503 shares during the last quarter. State of Wyoming boosted its holdings in Neptune Insurance by 80.7% during the third quarter. State of Wyoming now owns 5,026 shares of the company’s stock worth $137,000 after buying an additional 2,244 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Neptune Insurance by 73.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after buying an additional 3,146 shares during the period. Grandeur Peak Global Advisors LLC grew its position in shares of Neptune Insurance by 22.0% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company’s stock worth $583,000 after buying an additional 3,339 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Neptune Insurance during the 3rd quarter worth about $105,000.

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.