Neptune Insurance (NYSE:NP) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Neptune Insurance shares moved above their 200-day moving average, reaching $33.73 before last trading at $32.72. The stock has a $4.49 billion market capitalization and trades at a price-to-earnings ratio of 130.88.
• Analyst sentiment remains favorable, with eight Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $31.82. Recent targets range from $30 to $36, including a downgrade by BMO Capital Markets to “Market Perform.”
• Neptune exceeded quarterly expectations, reporting earnings of $0.15 per share versus $0.14 expected and revenue of $55.87 million versus $52.38 million forecast. However, insiders sold roughly 3.6 million shares worth $119.4 million over the past 90 days, while insiders still own 74.26% of the company.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.32 and traded as high as $33.73. Neptune Insurance shares last traded at $32.72, with a volume of 337,600 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NP. BMO Capital Markets downgraded shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price target on the stock. in a report on Thursday, July 30th. Evercore restated an "outperform" rating and set a $36.00 price objective on shares of Neptune Insurance in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $33.00 price objective on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Neptune Insurance from $34.00 to $33.00 and set a "market perform" rating for the company in a report on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Neptune Insurance has a consensus rating of "Moderate Buy" and a consensus target price of $31.82.

Neptune Insurance Stock Down 1.8%

The stock has a market cap of $4.49 billion and a PE ratio of 130.88. The business has a 50 day moving average price of $31.94 and a 200 day moving average price of $27.32.

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

Insider Transactions at Neptune Insurance

In related news, CFO James Steiner sold 57,012 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $31.71, for a total value of $1,807,850.52. Following the completion of the transaction, the chief financial officer directly owned 3,749,050 shares in the company, valued at $118,882,375.50. The trade was a 1.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total transaction of $54,220,355.20. Following the completion of the transaction, the insider owned 12,620,558 shares of the company's stock, valued at approximately $419,254,936.76. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,600,000 shares of company stock valued at $119,413,918 in the last 90 days. 74.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neptune Insurance

Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN acquired a new stake in shares of Neptune Insurance during the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. raised its holdings in Neptune Insurance by 73.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock worth $180,000 after purchasing an additional 3,146 shares during the period. Grandeur Peak Global Advisors LLC raised its holdings in Neptune Insurance by 22.0% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company's stock worth $583,000 after purchasing an additional 3,339 shares during the period. Symmetry Investments LP purchased a new position in Neptune Insurance during the fourth quarter worth approximately $204,000. Finally, AXQ Capital LP purchased a new position in Neptune Insurance during the second quarter worth approximately $296,000.

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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