Neptune Insurance (NYSE:NP) Stock: Insider Matthew Paul Duffy Sells 41,392 Shares

Key Points

• Insider sale: Matthew Paul Duffy sold 41,392 Neptune Insurance shares for approximately $1.12 million at an average price of $27.15 under a pre-arranged Rule 10b5-1 plan. He retained 1.96 million shares, worth about $53.3 million.
• Stock performance: Neptune shares recently traded at $27.76, with a market capitalization of $3.81 billion and a price-to-earnings ratio of 111.04. The stock remains below its 50-day moving average of $31.14 but above its one-year low of $14.78.
• Analyst outlook and results: The company beat quarterly earnings and revenue estimates, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $31.75.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) insider Matthew Duffy sold 41,392 shares of Neptune Insurance stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $27.15, for a total value of $1,123,792.80. Following the completion of the sale, the insider owned 1,964,239 shares of the company's stock, valued at approximately $53,329,088.85. The trade was a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Paul Duffy also recently made the following trade(s):

• On Friday, October 2nd, Matthew Duffy sold 39,737 shares of Neptune Insurance stock. The shares were sold at an average price of $27.67, for a total transaction of $1,099,522.79.

Neptune Insurance Price Performance

Shares of NYSE NP traded up $0.57 during mid-day trading on Wednesday, hitting $27.76. The company's stock had a trading volume of 404,043 shares, compared to its average volume of 598,036. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $35.15. The company's fifty day simple moving average is $31.14 and its 200-day simple moving average is $28.95. The stock has a market cap of $3.81 billion and a price-to-earnings ratio of 111.04.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, topping 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 business had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. On average, sell-side analysts predict that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore restated an "outperform" rating and set a $36.00 target price on shares of Neptune Insurance in a report on Wednesday, July 22nd. Morgan Stanley upgraded shares of Neptune Insurance from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $31.00 to $36.00 in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Neptune Insurance from a "sell (d)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Mizuho decreased their price objective on shares of Neptune Insurance from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods cut their target price 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. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.75.

Institutional Trading of Neptune Insurance

Hedge funds have recently bought and sold shares of the stock. Bregal Sagemount IV General Partner Jersey Ltd acquired a new position in shares of Neptune Insurance in the fourth quarter valued at approximately $569,509,000. Capital World Investors bought a new stake in Neptune Insurance in the 4th quarter valued at $32,091,000. Azora Capital LP bought a new stake in Neptune Insurance in the 4th quarter valued at $21,695,000. Capital International Investors acquired a new position in Neptune Insurance in the 4th quarter worth $20,412,000. Finally, Renaissance Technologies LLC increased its holdings in Neptune Insurance by 874.4% during the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company's stock worth $3,887,000 after purchasing an additional 144,210 shares in the last quarter.

About Neptune Insurance

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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