Neptune Insurance (NYSE:NP) Stock: Insider Trevor Burgess Sells 104,717 Shares

Key Points

• CEO Trevor Burgess sold 104,717 shares for about $2.91 million, a 5.04% reduction in his holdings. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained nearly 1.97 million shares.
• Neptune reported quarterly EPS of $0.17, beating estimates by $0.01, and revenue of $59.57 million, above analyst expectations of $56.59 million.
• 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) CEO Trevor Burgess sold 104,717 shares of Neptune Insurance stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $27.75, for a total value of $2,905,896.75. Following the sale, the chief executive officer directly owned 1,973,519 shares of the company's stock, valued at approximately $54,765,152.25. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Trading Up 0.8%

Shares of NP traded up $0.24 during midday trading on Monday, reaching $28.15. 876,926 shares of the stock were exchanged, compared to its average volume of 598,857. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $35.15. The company's 50 day moving average is $29.46 and its two-hundred day moving average is $27.55. The company has a market capitalization of $3.89 billion and a P/E ratio of 87.96.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NP shares. Evercore reiterated an "outperform" rating and issued a $36.00 price target on shares of Neptune Insurance in a report on Wednesday, July 22nd. Weiss Ratings raised Neptune Insurance from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Neptune Insurance from $32.00 to $33.00 and gave the stock a "market perform" rating in a report on Wednesday, October 21st. Wells Fargo & Company lowered their price target on shares of Neptune Insurance from $37.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, October 12th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Neptune Insurance in a research note on Monday, October 19th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NP. Nisa Investment Advisors LLC increased its holdings in shares of Neptune Insurance by 41.1% during the third 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 in the last quarter. State of Wyoming grew its position in Neptune Insurance by 80.7% during the 3rd quarter. State of Wyoming now owns 5,026 shares of the company's stock worth $137,000 after purchasing an additional 2,244 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Neptune Insurance by 73.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock worth $180,000 after buying an additional 3,146 shares during the last quarter. Grandeur Peak Global Advisors LLC raised its holdings in shares of Neptune Insurance by 22.0% in the second quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company's stock worth $583,000 after buying an additional 3,339 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Neptune Insurance during the third quarter worth $105,000.

Neptune Insurance Company Profile

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.

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