James Steiner Sells 57,012 Shares of Neptune Insurance (NYSE:NP) Stock

Key Points

• Neptune Insurance CFO James Steiner sold 57,012 shares at an average price of $31.71, generating approximately $1.81 million; he still directly owns 3.75 million shares.
• NP shares traded at $31.82, near analysts’ consensus target of $31.46, with a market capitalization of $4.37 billion and a 52-week range of $14.78 to $35.15.
• Neptune exceeded quarterly expectations with EPS of $0.15 versus $0.14 expected and revenue of $55.87 million versus $52.38 million, while analysts’ overall consensus rating remains Hold.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CFO James Steiner sold 57,012 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $31.71, for a total transaction of $1,807,850.52. Following the sale, the chief financial officer directly owned 3,749,050 shares of the company's stock, valued at $118,882,375.50. This represents a 1.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, August 12th, James Steiner sold 42,988 shares of Neptune Insurance stock. The shares were sold at an average price of $31.08, for a total value of $1,336,067.04.

Neptune Insurance Price Performance

Shares of NP traded down $0.25 during mid-day trading on Friday, hitting $31.82. 337,369 shares of the company's stock were exchanged, compared to its average volume of 619,639. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $35.15. The company has a 50-day simple moving average of $30.52 and a 200 day simple moving average of $26.53. The company has a market cap of $4.37 billion and a PE ratio of 127.30.

Neptune Insurance (NYSE:NP - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. On average, analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On Neptune Insurance

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

Analyst Upgrades and Downgrades

NP has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Neptune Insurance in a research report on Monday, April 27th. Evercore reiterated an "outperform" rating and set a $36.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. BMO Capital Markets downgraded shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price target for the company. in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on Neptune Insurance from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded Neptune Insurance from a "sell (d)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $31.46.

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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