Neptune Insurance (NYSE:NP) Shares Gap Up Following Insider Buying Activity

Neptune Insurance Holdings Inc. (NYSE:NP)’s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $20.40, but opened at $21.95. Neptune Insurance shares last traded at $21.56, with a volume of 52,707 shares changing hands.

Specifically, Director Michael Warren Vostrizansky purchased 23,000 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average cost of $21.50 per share, with a total value of $494,500.00. Following the completion of the transaction, the director owned 23,000 shares in the company, valued at $494,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of analysts have issued reports on NP shares. Zacks Research raised shares of Neptune Insurance to a “hold” rating in a report on Tuesday, October 28th. Raymond James Financial set a $24.00 price target on Neptune Insurance in a research note on Monday. Evercore set a $30.00 price target on Neptune Insurance in a research report on Thursday, February 19th. Piper Sandler dropped their price objective on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $32.50 target price on shares of Neptune Insurance in a research report on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.

Neptune Insurance Stock Performance

The stock has a fifty day simple moving average of $25.45 and a two-hundred day simple moving average of $27.30. The stock has a market cap of $2.98 billion and a price-to-earnings ratio of 196.27.

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

Institutional Trading of Neptune Insurance

Hedge funds have recently added to or reduced their stakes in the stock. Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in shares of Neptune Insurance during the fourth quarter worth $569,509,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Neptune Insurance during the 4th quarter valued at $133,488,000. Vanguard Group Inc. bought a new stake in Neptune Insurance during the 4th quarter worth $47,063,000. Capital World Investors bought a new position in Neptune Insurance in the fourth quarter valued at about $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Neptune Insurance during the fourth quarter valued at about $29,051,000.

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.