Slide Insurance (NASDAQ:SLDE) CEO Sells $1,820,323.04 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 98,716 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $18.44, for a total transaction of $1,820,323.04. Following the completion of the sale, the chief executive officer directly owned 38,895,317 shares in the company, valued at approximately $717,229,645.48. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bruce Lucas also recently made the following trade(s):

• On Monday, March 16th, Bruce Lucas sold 227,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.13, for a total transaction of $4,124,575.00.
• On Wednesday, March 11th, Bruce Lucas sold 2,730 shares of Slide Insurance stock. The shares were sold at an average price of $17.42, for a total transaction of $47,556.60.
• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total transaction of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total transaction of $4,489,354.87.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total transaction of $3,344,114.28.

Slide Insurance Stock Down 5.4%

Shares of NASDAQ:SLDE opened at $16.37 on Friday. The firm has a 50 day simple moving average of $17.32 and a 200-day simple moving average of $16.66. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.04 billion and a PE ratio of 6.34.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on SLDE. Barclays lifted their target price on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price target on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Piper Sandler upped their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $24.40.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors have recently modified their holdings of the company. Comerica Bank grew its holdings in Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the last quarter. CWM LLC acquired a new position in Slide Insurance in the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. purchased a new position in Slide Insurance in the 3rd quarter valued at about $35,000. Aster Capital Management DIFC Ltd purchased a new position in Slide Insurance in the 4th quarter valued at about $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Slide Insurance by 4,839.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after purchasing an additional 2,468 shares during the last quarter.

About Slide Insurance

Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.