Neptune Insurance (NYSE:NP) Stock: Insider Matthew Paul Duffy Sells 84,441 Shares

Key Points

• Insider sale: Matthew Paul Duffy sold 84,441 Neptune Insurance shares at an average price of $28.10, generating $2.37 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 4.3% to 1.88 million shares.
• Stock performance and results: Neptune shares traded at $28.64, with a market capitalization of approximately $3.93 billion. In its latest quarter, the company reported EPS of $0.15 and revenue of $55.87 million, exceeding analyst estimates.
• Analyst outlook: Wall Street maintains a “Moderate Buy” consensus, with eight Buy and seven Hold ratings and an average price target of $31.75, compared with the reported share price.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) insider Matthew Duffy sold 84,441 shares of Neptune Insurance stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $28.10, for a total value of $2,372,792.10. Following the completion of the sale, the insider directly owned 1,879,798 shares of the company's stock, valued at $52,822,323.80. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 6th, Matthew Duffy sold 41,392 shares of Neptune Insurance stock. The shares were sold at an average price of $27.15, for a total transaction of $1,123,792.80.
• 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 value of $1,099,522.79.

Neptune Insurance Price Performance

NP traded up $0.20 during mid-day trading on Friday, hitting $28.64. The stock had a trading volume of 313,905 shares, compared to its average volume of 596,442. The stock's fifty day simple moving average is $30.93 and its 200-day simple moving average is $29.04. The firm has a market capitalization of $3.93 billion and a price-to-earnings ratio of 114.55. Neptune Insurance Holdings Inc. has a 1-year low of $14.78 and a 1-year high of $35.15.

Neptune Insurance (NYSE:NP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) 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 company had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. As a group, research analysts expect that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neptune Insurance

A number of hedge funds have recently made changes to their positions in the business. BlueCrest Capital Management Ltd purchased a new position in Neptune Insurance in the second quarter valued at approximately $1,418,000. Sei Investments Co. boosted its stake in Neptune Insurance by 203.3% in the 1st quarter. Sei Investments Co. now owns 59,114 shares of the company's stock worth $1,430,000 after purchasing an additional 39,626 shares during the period. Bank of America Corp DE grew its stake in Neptune Insurance by 562.1% during the first quarter. Bank of America Corp DE now owns 37,496 shares of the company's stock valued at $907,000 after acquiring an additional 31,833 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Neptune Insurance by 874.4% in the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company's stock worth $3,887,000 after buying an additional 144,210 shares in the last quarter. Finally, Azora Capital LP purchased a new stake in shares of Neptune Insurance in the 4th quarter valued at about $21,695,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Evercore reaffirmed an "outperform" rating and set a $36.00 price target on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods reduced their target price on Neptune Insurance from $34.00 to $33.00 and set a "market perform" rating for the company in a research note on Friday, July 24th. Piper Sandler increased their price target on shares of Neptune Insurance from $30.00 to $39.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Wells Fargo & Company lifted their target price on Neptune Insurance from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Finally, BMO Capital Markets cut Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 target price for the company. in a report on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.75.

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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