Insider Selling: Neptune Insurance (NYSE:NP) Insider Sells $1,099,522.79 in Stock

Key Points

• Insider sale: Matthew Paul Duffy sold 39,737 Neptune Insurance shares for approximately $1.10 million under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 1.94% while retaining 2.01 million shares.
• Stock and results: NP shares recently traded at $27.14, with a $3.73 billion market capitalization and a P/E ratio of 108.58. The company exceeded quarterly earnings and revenue estimates, reporting $0.15 EPS and $55.87 million in revenue.
• Analyst outlook: Neptune has a consensus “Moderate Buy” rating from analysts, with an average price target of $31.82, though recent recommendations range from “Hold” to “Buy.”

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) insider Matthew Paul Duffy sold 39,737 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $27.67, for a total transaction of $1,099,522.79. Following the sale, the insider owned 2,005,631 shares in the company, valued at $55,495,809.77. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

Shares of Neptune Insurance stock traded down $0.28 on Monday, hitting $27.14. The company had a trading volume of 433,458 shares, compared to its average volume of 597,226. The stock has a 50-day moving average of $31.31 and a 200-day moving average of $28.90. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $35.15. The firm has a market capitalization of $3.73 billion and a P/E ratio of 108.58.

Neptune Insurance (NYSE:NP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. The business had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. Equities analysts predict that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NP shares. Weiss Ratings raised Neptune Insurance from a "sell (d)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Morgan Stanley raised Neptune Insurance from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $31.00 to $36.00 in a research report on Wednesday, August 19th. BMO Capital Markets cut shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price target for the company. in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Neptune Insurance has a consensus rating of "Moderate Buy" and a consensus price target of $31.82.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NP. PNC Financial Services Group Inc. grew its stake in Neptune Insurance by 73.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock valued at $180,000 after purchasing an additional 3,146 shares in the last quarter. FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at approximately $289,000. AXQ Capital LP bought a new position in shares of Neptune Insurance in the second quarter valued at $296,000. Janus Henderson Group PLC acquired a new position in Neptune Insurance during the first quarter worth $313,000. Finally, Arizona State Retirement System bought a new stake in Neptune Insurance during the second quarter worth $329,000.

Neptune Insurance Company Profile

Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners' insurance policies, which generally provide limited protection against flood damage.

The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.

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