Neptune Insurance (NYSE:NP) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.32 and traded as high as $33.73. Neptune Insurance shares last traded at $32.72, with a volume of 337,600 shares.

Analyst Ratings Changes

A number of research firms recently commented on NP. Keefe, Bruyette & Woods lowered their price target on shares of Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, July 24th. JPMorgan Chase & Co. raised their target price on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $33.00 target price on shares of Neptune Insurance in a research note on Wednesday, July 22nd. BMO Capital Markets cut Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research report on Thursday, July 30th. Finally, Wells Fargo & Company increased their price target on Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Neptune Insurance has a consensus rating of “Moderate Buy” and an average target price of $31.82.

Neptune Insurance Price Performance

The firm’s 50 day moving average is $32.03 and its 200 day moving average is $27.44. The company has a market cap of $4.59 billion and a PE ratio of 133.84.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The firm had revenue of $55.87 million during the quarter, compared to analyst estimates of $52.38 million. As a group, analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling

In other news, CFO James Steiner sold 57,012 shares of Neptune Insurance stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $31.71, for a total transaction of $1,807,850.52. Following the completion of the sale, the chief financial officer owned 3,749,050 shares in the company, valued at approximately $118,882,375.50. This trade represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Vii L.P. Ftv sold 1,867,840 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total value of $62,049,644.80. Following the transaction, the insider directly owned 14,442,941 shares of the company’s stock, valued at $479,794,500.02. The trade was a 11.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,600,000 shares of company stock worth $119,413,918 over the last ninety days. 74.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neptune Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN purchased a new position in Neptune Insurance in the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. raised 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 valued at $180,000 after buying an additional 3,146 shares in the last quarter. Grandeur Peak Global Advisors LLC raised 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 valued at $583,000 after buying an additional 3,339 shares in the last quarter. Symmetry Investments LP bought a new stake in shares of Neptune Insurance during the 4th quarter worth $204,000. Finally, AXQ Capital LP purchased a new position in Neptune Insurance in the second quarter worth $296,000.

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.