Insider Selling: Slide Insurance (NASDAQ:SLDE) Insider Sells 8,750 Shares of Stock

Key Points

• Matthew Paul Larson sold a total of 75,000 shares of Slide Insurance (NASDAQ:SLDE) between March 3 and April 20 — including 8,750 shares on April 16 at $19 — generating roughly $1.39 million and reducing his ownership by about 50% to 8,750 shares.
• Despite the insider sales, Slide reported an earnings beat (Q quarter EPS $1.23 vs. $0.87) and maintains a consensus "Buy" rating with a $24.40 price target after multiple analyst upgrades.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) insider Matthew Paul Larson sold 8,750 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $19.00, for a total value of $166,250.00. Following the transaction, the insider directly owned 8,750 shares of the company's stock, valued at approximately $166,250. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.39, for a total value of $218,137.50.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $202,500.00.
• On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $202,500.00.
• On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total value of $213,862.50.

Slide Insurance Price Performance

Shares of SLDE traded down $0.65 during trading hours on Monday, hitting $18.98. 1,414,875 shares of the stock were exchanged, compared to its average volume of 1,898,098. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a market cap of $2.36 billion and a price-to-earnings ratio of 7.36. The stock's 50-day moving average price is $17.92 and its two-hundred day moving average price is $17.25.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter. Research analysts expect that Slide Insurance Holdings, Inc. will post 3.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLDE. Barclays upped their target price on Slide Insurance from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Zacks Research upgraded Slide Insurance from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 17th. Texas Capital upgraded Slide Insurance to a "strong-buy" rating in a report on Wednesday, March 18th. Keefe, Bruyette & Woods upped their target price on Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, March 9th. Finally, Piper Sandler upped their target price on Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $24.40.

Hedge Funds Weigh In On Slide Insurance

A number of hedge funds have recently modified their holdings of SLDE. Geode Capital Management LLC purchased a new position in shares of Slide Insurance during the 2nd quarter worth $2,245,000. Legal & General Group Plc purchased a new position in shares of Slide Insurance during the 2nd quarter worth $216,000. Norges Bank purchased a new position in shares of Slide Insurance during the 2nd quarter worth $866,000. Marshall Wace LLP purchased a new position in shares of Slide Insurance during the 2nd quarter worth $1,056,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Slide Insurance during the 2nd quarter worth $834,000.

About Slide Insurance

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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