Neptune Insurance (NYSE:NP) Stock: Insider Matthew Paul Duffy Sells 86,000 Shares

Key Points

• Insider Matthew Duffy sold 86,000 Neptune Insurance shares at an average $28.04, totaling about $2.41 million; he retained 1,705,798 shares after the sale. The article also lists several other sales by Duffy in October and November.
• Neptune beat quarterly estimates, reporting EPS of $0.17 versus $0.16 expected and revenue of $59.57 million versus $56.59 million forecast.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $32.29; seven analysts rate the stock Buy and six rate it Hold.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) insider Matthew Duffy sold 86,000 shares of the company's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $28.04, for a total value of $2,411,440.00. Following the transaction, the insider directly owned 1,705,798 shares in the company, valued at $47,830,575.92. This represents a 4.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 9th, Matthew Duffy sold 88,000 shares of Neptune Insurance stock. The stock was sold at an average price of $28.03, for a total value of $2,466,640.00.
• On Thursday, October 8th, Matthew Duffy sold 84,441 shares of Neptune Insurance stock. The shares were sold at an average price of $28.10, for a total value of $2,372,792.10.
• 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 stock was sold at an average price of $27.67, for a total transaction of $1,099,522.79.

Neptune Insurance Price Performance

NYSE:NP traded up $0.06 on Thursday, reaching $28.54. 311,749 shares of the company's stock were exchanged, compared to its average volume of 597,093. The firm has a market cap of $3.94 billion and a price-to-earnings ratio of 89.18. The stock has a fifty day simple moving average of $29.15 and a 200-day simple moving average of $27.60. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $35.15.

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, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $59.57 million for the quarter, compared to analyst estimates of $56.59 million. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. As a group, sell-side analysts predict that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NP shares. Weiss Ratings upgraded Neptune Insurance from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Deutsche Bank reiterated a "buy" rating on shares of Neptune Insurance in a research note on Wednesday, September 23rd. Morgan Stanley dropped their price objective on Neptune Insurance from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, October 22nd. Mizuho raised their target price on Neptune Insurance from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods lifted their target price on Neptune Insurance from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Neptune Insurance presently has an average rating of "Moderate Buy" and a consensus target price of $32.29.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NP. USS Investment Management Ltd boosted its stake in Neptune Insurance by 152.0% during the third quarter. USS Investment Management Ltd now owns 311,686 shares of the company's stock valued at $8,523,000 after buying an additional 187,996 shares during the period. Public Sector Pension Investment Board bought a new position in Neptune Insurance in the 3rd quarter worth about $6,017,000. Fifth Third Bancorp raised its holdings in shares of Neptune Insurance by 30.2% in the 3rd quarter. Fifth Third Bancorp now owns 82,615 shares of the company's stock valued at $2,260,000 after acquiring an additional 19,165 shares in the last quarter. State of Wyoming raised its holdings in shares of Neptune Insurance by 80.7% in the 3rd quarter. State of Wyoming now owns 5,026 shares of the company's stock valued at $137,000 after acquiring an additional 2,244 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Neptune Insurance by 41.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company's stock valued at $47,000 after acquiring an additional 503 shares during the last quarter.

About Neptune Insurance

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution. Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States. Founder Trevor Burgess has served as the company's chief executive officer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.