Neptune Insurance (NYSE:NP) CEO Sells $1,559,084.45 in Stock

Key Points

• CEO Trevor Burgess sold 53,669 shares for about $1.56 million at an average price of $29.05 under a pre-arranged Rule 10b5-1 plan. He retained 2,255,003 shares, worth approximately $65.5 million after the sale.
• Neptune beat quarterly estimates, reporting earnings of $0.17 per share versus $0.16 expected and revenue of $59.57 million versus a $56.59 million consensus.
• Analysts’ consensus rating is “Moderate Buy”, with a $32.29 average price target; shares were trading at $29.15 in the article.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CEO Trevor Burgess sold 53,669 shares of Neptune Insurance stock in a transaction on Friday, October 30th. The shares were sold at an average price of $29.05, for a total value of $1,559,084.45. Following the sale, the chief executive officer directly owned 2,255,003 shares of the company's stock, valued at approximately $65,507,837.15. This trade represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

Shares of NP stock traded down $0.21 during mid-day trading on Tuesday, hitting $29.15. The stock had a trading volume of 593,559 shares, compared to its average volume of 593,945. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $35.15. The firm has a market capitalization of $4.00 billion and a P/E ratio of 91.11. The firm's 50-day moving average is $29.91 and its two-hundred day moving average is $27.50.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The business had revenue of $59.57 million for the quarter, compared to the consensus estimate of $56.59 million. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. Analysts expect that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming grew its stake in Neptune Insurance by 80.7% in the third quarter. State of Wyoming now owns 5,026 shares of the company's stock valued at $137,000 after purchasing an additional 2,244 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Neptune Insurance by 41.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company's stock valued at $47,000 after buying an additional 503 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Neptune Insurance during the third quarter valued at about $105,000. BlueCrest Capital Management Ltd bought a new stake in shares of Neptune Insurance in the 2nd quarter valued at about $1,418,000. Finally, Arizona State Retirement System bought a new stake in shares of Neptune Insurance in the 2nd quarter valued at about $329,000.

Analysts Set New Price Targets

NP has been the topic of several recent research reports. Piper Sandler reiterated an "overweight" rating on shares of Neptune Insurance in a report on Monday, October 19th. BMO Capital Markets lowered 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 report on Thursday, July 30th. Wells Fargo & Company lowered their price target on shares of Neptune Insurance from $37.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, October 12th. Weiss Ratings upgraded shares of Neptune Insurance from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Finally, Morgan Stanley lowered their target price on Neptune Insurance from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, October 22nd. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $32.29.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.

The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder's location and eligibility.

Neptune's business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.

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