Insider Selling: Slide Insurance (NASDAQ:SLDE) CEO Sells 273,702 Shares of Stock

Key Points

• CEO Bruce Lucas sold 273,702 shares on April 9 at $18.11 ($4.96M); across March–April he sold about 1.80M shares for roughly $32.6M, trimming his stake by 0.72% to 37.62M shares.
• Slide Insurance (NASDAQ:SLDE) trades with a market cap of $2.24B and a P/E of 7.0, recently reported EPS of $1.23 beating estimates, and carries a consensus analyst rating of Buy with an average target of $24.40.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) CEO Bruce Lucas sold 273,702 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $18.11, for a total value of $4,956,743.22. Following the completion of the sale, the chief executive officer directly owned 37,620,933 shares of the company's stock, valued at $681,315,096.63. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Bruce Lucas also recently made the following trade(s):

• On Monday, April 13th, Bruce Lucas sold 259,055 shares of Slide Insurance stock. The shares were sold at an average price of $18.05, for a total value of $4,675,942.75.
• On Wednesday, April 8th, Bruce Lucas sold 121,414 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total value of $2,186,666.14.
• On Tuesday, April 7th, Bruce Lucas sold 114,077 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $2,053,386.00.
• On Monday, April 6th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total value of $2,469,285.00.
• On Monday, March 30th, Bruce Lucas sold 135,376 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total value of $2,448,951.84.
• On Wednesday, April 1st, Bruce Lucas sold 8,771 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total value of $157,965.71.
• On Tuesday, March 31st, Bruce Lucas sold 247,008 shares of Slide Insurance stock. The stock was sold at an average price of $18.10, for a total value of $4,470,844.80.
• On Thursday, March 26th, Bruce Lucas sold 178,733 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total value of $3,224,343.32.
• On Tuesday, March 17th, Bruce Lucas sold 98,716 shares of Slide Insurance stock. The stock was sold at an average price of $18.44, for a total value of $1,820,323.04.
• On Monday, March 16th, Bruce Lucas sold 227,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.13, for a total value of $4,124,575.00.

Slide Insurance Trading Up 0.3%

SLDE stock traded up $0.05 during midday trading on Monday, reaching $18.05. The stock had a trading volume of 1,984,360 shares, compared to its average volume of 2,266,573. The business has a fifty day simple moving average of $17.76 and a two-hundred day simple moving average of $17.12. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.24 billion and a price-to-earnings ratio of 7.00. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on SLDE. Piper Sandler lifted their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Wall Street Zen cut Slide Insurance from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research upgraded Slide Insurance from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 17th. Weiss Ratings restated a "hold (c-)" rating on shares of Slide Insurance in a research note on Friday, December 26th. Finally, Texas Capital upgraded Slide Insurance to a "strong-buy" rating in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Slide Insurance currently has a consensus rating of "Buy" and an average target price of $24.40.

Institutional Trading of Slide Insurance

Several institutional investors have recently added to or reduced their stakes in SLDE. Geode Capital Management LLC bought a new stake in Slide Insurance in the 2nd quarter valued at $2,245,000. Legal & General Group Plc bought a new stake in Slide Insurance in the 2nd quarter valued at $216,000. Norges Bank bought a new stake in Slide Insurance in the 2nd quarter valued at $866,000. Marshall Wace LLP bought a new stake in Slide Insurance in the 2nd quarter valued at $1,056,000. Finally, Qube Research & Technologies Ltd bought a new stake in Slide Insurance in the 2nd quarter valued at $834,000.

Slide Insurance Company Profile

Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.

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