Insider Selling: Neptune Insurance (NYSE:NP) CFO Sells 42,988 Shares of Stock

Key Points

• Neptune Insurance CFO James Steiner sold 42,988 shares at an average price of $31.08, generating approximately $1.34 million; he retained 3.81 million shares after the transaction. He also sold an additional 57,012 shares the following day for about $1.81 million.
• Neptune shares traded at $31.82, near their 52-week high, with a market capitalization of approximately $4.37 billion. The company recently exceeded quarterly expectations, reporting $0.15 in EPS and $55.87 million in revenue.
• Analyst sentiment is mixed, with seven Buy ratings and eight Hold ratings, producing an overall “Hold” consensus and an average price target of $31.46.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CFO James Steiner sold 42,988 shares of Neptune Insurance stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $31.08, for a total transaction of $1,336,067.04. Following the completion of the sale, the chief financial officer owned 3,806,062 shares in the company, valued at approximately $118,292,406.96. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

James Steiner also recently made the following trade(s):

• On Thursday, August 13th, James Steiner sold 57,012 shares of Neptune Insurance stock. The stock was sold at an average price of $31.71, for a total transaction of $1,807,850.52.

Neptune Insurance Stock Performance

Shares of NP traded down $0.25 during mid-day trading on Friday, hitting $31.82. 337,369 shares of the company were exchanged, compared to its average volume of 619,639. The stock has a market cap of $4.37 billion and a price-to-earnings ratio of 127.30. Neptune Insurance Holdings Inc. has a 1-year low of $14.78 and a 1-year high of $35.15. The company has a 50 day moving average of $30.52 and a 200-day moving average of $26.53.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $52.38 million. Research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NP. Mizuho lifted their price target on Neptune Insurance from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $33.00 price objective on shares of Neptune Insurance in a report on Wednesday, July 22nd. BMO Capital Markets cut shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 target price on the stock. in a research note on Thursday, July 30th. Morgan Stanley set a $31.00 target price on shares of Neptune Insurance in a report on Thursday, July 23rd. Finally, Piper Sandler increased their target price on shares of Neptune Insurance from $30.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $31.46.

Hedge Funds Weigh In On Neptune Insurance

A number of institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new position in Neptune Insurance in the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. purchased a new stake in shares of Neptune Insurance in the 4th quarter valued at approximately $125,000. Symmetry Investments LP acquired a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $204,000. FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $289,000. Finally, BIT Capital GmbH purchased a new stake in shares of Neptune Insurance during the 4th quarter valued at approximately $292,000.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.

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