Neptune Insurance (NYSE:NP) Stock Price Down 5.1% - What's Next?

Key Points

• Neptune Insurance shares fell 5.1% to about $27.17 during Tuesday trading, while volume was 85% below the average session level.
• Analysts remain broadly positive, with an overall “Moderate Buy” rating and an average price target of $31.82; several firms recently raised targets into the $36–$39 range.
• The company recently exceeded quarterly earnings and revenue estimates, but insiders sold 3.65 million shares worth approximately $121 million over the past three months.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) dropped 5.1% during mid-day trading on Tuesday . The company traded as low as $27.21 and last traded at $27.17. 90,623 shares traded hands during trading, a decline of 85% from the average session volume of 590,642 shares. The stock had previously closed at $28.63.

Analysts Set New Price Targets

A number of research analysts have weighed in on NP shares. Morgan Stanley raised Neptune Insurance from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $31.00 to $36.00 in a research note on Wednesday, August 19th. Piper Sandler increased their target price on Neptune Insurance from $30.00 to $39.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Wells Fargo & Company raised their price target on Neptune Insurance from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Evercore reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $33.00 price objective on shares of Neptune Insurance in a report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.82.

Neptune Insurance Stock Performance

The firm has a fifty day moving average of $31.89 and a 200-day moving average of $28.45. The stock has a market capitalization of $3.66 billion and a price-to-earnings ratio of 107.05.

Neptune Insurance (NYSE:NP - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. On average, analysts predict that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Insiders Place Their Bets

In other news, CFO James Steiner sold 57,012 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $31.71, for a total transaction of $1,807,850.52. Following the completion of the sale, the chief financial officer owned 3,749,050 shares of the company's stock, valued at approximately $118,882,375.50. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Carlon sold 50,000 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $31.15, for a total transaction of $1,557,500.00. Following the transaction, the director owned 603,500 shares in the company, valued at $18,799,025. This trade represents a 7.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,650,000 shares of company stock valued at $120,971,418 in the last three months. 74.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Neptune Insurance

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 3,146 shares in the last quarter. FJ Capital Management LLC bought a new stake in Neptune Insurance during the fourth quarter valued at $289,000. BIT Capital GmbH bought a new position in shares of Neptune Insurance in the 4th quarter worth about $292,000. AXQ Capital LP acquired a new position in Neptune Insurance during the 2nd quarter valued at approximately $296,000. Finally, Janus Henderson Group PLC acquired a new stake in Neptune Insurance in the first quarter worth $313,000.

Neptune Insurance Company Profile

Neptune Insurance, commonly known as Neptune Flood, is a U.S.-focused insurtech company specializing in private flood insurance. Its products are designed to provide alternatives to coverage available through the National Flood Insurance Program and may cover residential properties, personal belongings, additional living expenses and certain commercial properties, subject to policy terms and availability.

The company distributes its insurance through independent agents and uses technology to support quoting, underwriting and policy administration.

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