Neptune Insurance (NYSE:NP) CEO Buys 50,000 Shares

Key Points

• CEO Trevor Burgess purchased 50,000 shares on March 13 at an average price of $18.71 for a total of $935,500, raising his stake to 2,082,964 shares (a 2.46% increase).
• The company beat expectations in its most recent quarterly report, posting $0.11 EPS versus $0.10 expected and revenue of $43.77 million versus $39.42 million expected.
• Shares traded up to $20.64 (market cap ≈ $2.85B, P/E ~93.33) and analysts hold a "Moderate Buy" consensus with an average price target of $26.50.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CEO Trevor Burgess acquired 50,000 shares of the business's stock in a transaction on Friday, March 13th. The shares were bought at an average price of $18.71 per share, for a total transaction of $935,500.00. Following the acquisition, the chief executive officer owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. This trade represents a 2.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Neptune Insurance Price Performance

Neptune Insurance stock traded up $2.45 during mid-day trading on Friday, hitting $20.64. The company's stock had a trading volume of 415,784 shares, compared to its average volume of 409,463. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $33.23. The firm's 50 day moving average is $23.24 and its 200 day moving average is $26.40. The company has a market cap of $2.85 billion and a PE ratio of 93.33.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $43.77 million for the quarter, compared to analysts' expectations of $39.42 million.

Hedge Funds Weigh In On Neptune Insurance

A number of hedge funds have recently modified their holdings of NP. Emerald Mutual Fund Advisers Trust acquired a new stake in Neptune Insurance in the 3rd quarter valued at $792,000. Maltese Capital Management LLC acquired a new position in Neptune Insurance during the third quarter worth $3,200,000. FNY Investment Advisers LLC bought a new position in shares of Neptune Insurance during the third quarter valued at $171,000. Massachusetts Financial Services Co. MA bought a new position in shares of Neptune Insurance during the fourth quarter valued at $759,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at $2,068,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised Neptune Insurance from a "market perform" rating to an "outperform" rating and cut their price objective for the company from $26.00 to $25.00 in a research note on Thursday, February 19th. Piper Sandler decreased their target price on Neptune Insurance from $33.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Mizuho raised Neptune Insurance from an "underperform" rating to a "neutral" rating and lowered their target price for the company from $26.00 to $24.00 in a report on Wednesday, February 25th. Raymond James Financial set a $24.00 target price on shares of Neptune Insurance in a research note on Monday, February 23rd. Finally, BMO Capital Markets raised shares of Neptune Insurance from a "market perform" rating to an "outperform" rating and cut their price objective for the company from $25.00 to $20.00 in a research report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $26.50.

Neptune Insurance Company Profile

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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