Neptune Insurance (NYSE:NP) CEO Sells $2,208,727.15 in Stock

Key Points

• CEO Trevor Burgess sold 76,559 shares for about $2.21 million under a pre-arranged Rule 10b5-1 plan, reducing his position by 3.55%; he still directly owns 2.08 million shares.
• Neptune beat quarterly expectations, reporting EPS of $0.17 versus $0.16 expected and revenue of $59.57 million versus $56.59 million forecast.
• Shares fell 2.6% to $27.82 in Thursday mid-day trading. Analysts’ consensus rating is “Moderate Buy,” with a consensus price target of $32.29.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CEO Trevor Burgess sold 76,559 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $28.85, for a total transaction of $2,208,727.15. Following the sale, the chief executive officer directly owned 2,078,236 shares of the company's stock, valued at $59,957,108.60. The trade was a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Trading Down 2.6%

Shares of NP stock traded down $0.73 during mid-day trading on Thursday, reaching $27.82. The stock had a trading volume of 999,311 shares, compared to its average volume of 596,593. The stock's 50-day moving average price is $29.71 and its two-hundred day moving average price is $27.53. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $35.15. The firm has a market capitalization of $3.84 billion and a PE ratio of 86.93.

Neptune Insurance (NYSE:NP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $59.57 million during the quarter, compared to the consensus estimate of $56.59 million. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. On average, equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on Neptune Insurance from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, October 22nd. Mizuho upped their target price on Neptune Insurance from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, October 21st. BMO Capital Markets lowered Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 target price for the company. in a research report on Thursday, July 30th. Wells Fargo & Company lowered their target price on Neptune Insurance from $37.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. Finally, Weiss Ratings upgraded Neptune Insurance from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Neptune Insurance currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.29.

Hedge Funds Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming raised its holdings in Neptune Insurance by 80.7% in 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. Nisa Investment Advisors LLC grew its holdings in shares of Neptune Insurance by 41.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company's stock worth $47,000 after acquiring an additional 503 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Neptune Insurance during the 3rd quarter valued at about $105,000. BlueCrest Capital Management Ltd bought a new stake in Neptune Insurance during the second quarter valued at approximately $1,418,000. Finally, Arizona State Retirement System purchased a new stake in shares of Neptune Insurance in the 2nd quarter worth $329,000.

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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