Neptune Insurance (NYSE:NP) Director Sells $1,557,500.00 in Stock

Key Points

• Director Jonathan Carlon sold 50,000 Neptune Insurance shares at an average price of $31.15, generating $1.56 million. His remaining stake is 603,500 shares, a 7.65% reduction.
• Neptune shares fell 1.7% to $30.79, while the company carries a $4.23 billion market capitalization and trades at a high price-to-earnings ratio of 123.17.
• The company exceeded quarterly expectations, reporting $0.15 in earnings per share and $55.87 million in revenue. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $31.82.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) Director Jonathan Carlon sold 50,000 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $31.15, for a total value of $1,557,500.00. Following the transaction, the director directly owned 603,500 shares in the company, valued at approximately $18,799,025. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Neptune Insurance Stock Down 1.7%

Shares of NP traded down $0.54 during trading hours on Tuesday, hitting $30.79. The company had a trading volume of 383,269 shares, compared to its average volume of 593,040. The business has a fifty day moving average of $32.12 and a 200-day moving average of $28.13. The firm has a market cap of $4.23 billion and a price-to-earnings ratio of 123.17. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $35.15.

Neptune Insurance (NYSE:NP - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%.The business had revenue of $55.87 million during the quarter, compared to analysts' expectations of $52.38 million. On average, equities analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

NP has been the subject of a number of research analyst reports. BMO Capital Markets cut shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price objective for the company. in a research report on Thursday, July 30th. Morgan Stanley upgraded shares of Neptune Insurance from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $31.00 to $36.00 in a research report on Wednesday, August 19th. Evercore reaffirmed an "outperform" rating and set a $36.00 target price on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their price target on shares of Neptune Insurance from $34.00 to $33.00 and set a "market perform" rating for the company in a report on Friday, July 24th. Finally, Piper Sandler increased their price target on Neptune Insurance from $30.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Neptune Insurance currently has a consensus rating of "Moderate Buy" and an average price target of $31.82.

Institutional Trading of Neptune Insurance

Large investors have recently modified their holdings of the stock. Bregal Sagemount IV General Partner Jersey Ltd bought a new position in Neptune Insurance in the fourth quarter worth approximately $569,509,000. Capital World Investors acquired a new position in Neptune Insurance during the 4th quarter valued at about $32,091,000. Azora Capital LP acquired a new position in Neptune Insurance during the 4th quarter valued at about $21,695,000. Capital International Investors bought a new stake in Neptune Insurance during the 4th quarter worth approximately $20,412,000. Finally, TimesSquare Capital Management LLC bought a new stake in Neptune Insurance during the 4th quarter worth approximately $12,260,000.

About Neptune Insurance

Neptune Insurance, commonly known as Neptune Flood, is a U.S.-focused insurtech company specializing in private flood insurance. Its products are designed to provide alternatives to coverage available through the National Flood Insurance Program and may cover residential properties, personal belongings, additional living expenses and certain commercial properties, subject to policy terms and availability.

The company distributes its insurance through independent agents and uses technology to support quoting, underwriting and policy administration.

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