Neptune Insurance (NYSE:NP) Shares Gap Up After Insider Buying Activity

Neptune Insurance Holdings Inc. (NYSE:NP)’s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $20.40, but opened at $21.95. Neptune Insurance shares last traded at $21.56, with a volume of 52,707 shares trading hands.

Specifically, Director Michael Warren Vostrizansky purchased 23,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were bought at an average price of $21.50 per share, with a total value of $494,500.00. Following the purchase, the director directly owned 23,000 shares in the company, valued at $494,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NP. Keefe, Bruyette & Woods upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $26.00 to $25.00 in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Piper Sandler decreased their price objective on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Weiss Ratings initiated coverage on shares of Neptune Insurance in a research note on Wednesday, December 24th. They issued a “sell (d)” rating for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $32.50 price target on shares of Neptune Insurance in a research report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.

Neptune Insurance Stock Up 4.6%

The company’s fifty day moving average price is $25.30 and its two-hundred day moving average price is $27.26. The company has a market cap of $2.95 billion and a price-to-earnings ratio of 194.00.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $39.42 million.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. acquired a new stake in Neptune Insurance in the 4th quarter valued at approximately $133,488,000. XTX Topco Ltd acquired a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $361,000. Zimmer Partners LP acquired a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $3,645,000. Symmetry Investments LP bought a new stake in shares of Neptune Insurance in the fourth quarter worth $204,000. Finally, Readystate Asset Management LP acquired a new position in Neptune Insurance during the fourth quarter worth $1,448,000.

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.