Neptune Insurance (NYSE:NP) Trading Up 11.5% - What's Next?

Key Points

• Shares jumped 11.5% intraday to about $27.86 (high $27.22) from a $24.98 close, on ~106,584 shares traded, versus a 385,551 average daily volume.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $27.42 (breakdown: 8 Buys, 5 Holds, 1 Sell), and several firms recently raised targets including Goldman Sachs ($32.50) and Bank of America ($26.00).
• Insiders increased positions—CEO Trevor R. Burgess bought 50,000 shares at $18.71—and insiders now own 74.26% of the company, while large institutions like Bregal Sagemount, T. Rowe Price and Vanguard hold new sizable stakes.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report)'s stock price was up 11.5% during trading on Thursday . The company traded as high as $27.22 and last traded at $27.86. Approximately 106,584 shares were traded during trading, a decline of 72% from the average daily volume of 385,551 shares. The stock had previously closed at $24.98.

Analysts Set New Price Targets

A number of equities research analysts have commented on NP shares. The Goldman Sachs Group reissued a "buy" rating and set a $32.50 price objective on shares of Neptune Insurance in a report on Wednesday, January 7th. Raymond James Financial reissued an "outperform" rating on shares of Neptune Insurance in a report on Monday, April 27th. Bank of America upped their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, April 14th. Mizuho upped their target price on shares of Neptune Insurance from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. Finally, Evercore set a $30.00 target price on shares of Neptune Insurance in a research report on Thursday, February 19th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Neptune Insurance has an average rating of "Moderate Buy" and an average price target of $27.42.

Neptune Insurance Stock Performance

The company has a market capitalization of $4.18 billion and a price-to-earnings ratio of 112.15. The business's 50-day simple moving average is $23.78 and its 200-day simple moving average is $24.81.

Neptune Insurance (NYSE:NP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. The firm had revenue of $37.80 million during the quarter, compared to analyst estimates of $36.96 million. The company's revenue for the quarter was up 28.8% on a year-over-year basis. On average, analysts forecast that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Trevor R. Burgess purchased 50,000 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $18.71 per share, for a total transaction of $935,500.00. Following the transaction, the chief executive officer directly owned 2,082,964 shares of the company's stock, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Warren Vostrizansky purchased 23,000 shares of the business's stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the transaction, the director directly owned 23,000 shares in the company, valued at $494,500. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 74.26% of the company's stock.

Institutional Trading of Neptune Insurance

Several hedge funds have recently bought and sold shares of NP. Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in Neptune Insurance during the 4th quarter worth approximately $569,509,000. T. Rowe Price Investment Management Inc. acquired a new stake in Neptune Insurance during the 4th quarter worth approximately $133,488,000. Vanguard Group Inc. acquired a new stake in Neptune Insurance during the 4th quarter worth approximately $47,063,000. Capital World Investors acquired a new stake in Neptune Insurance during the 4th quarter worth approximately $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Neptune Insurance during the 4th quarter worth approximately $29,051,000.

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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