Neptune Insurance (NYSE:NP) Shares Gap Up – Should You Buy?

Neptune Insurance Holdings Inc. (NYSE:NP) shares gapped up prior to trading on Thursday . The stock had previously closed at $25.15, but opened at $27.33. Neptune Insurance shares last traded at $27.2620, with a volume of 22,949 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NP. Bank of America increased their target price on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods increased their target price on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Finally, Evercore reissued an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Neptune Insurance presently has an average rating of “Moderate Buy” and a consensus price target of $27.73.

Neptune Insurance Trading Up 1.3%

The stock has a fifty day moving average of $26.67 and a two-hundred day moving average of $25.19. The stock has a market capitalization of $3.78 billion and a price-to-earnings ratio of 101.10.

Neptune Insurance (NYSE:NP) last released 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 business had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. Equities analysts expect that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Activity

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $18,173,839.20. Following the completion of the sale, the insider directly owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Trevor R. Burgess bought 50,000 shares of the stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $18.71 per share, with a total value of $935,500.00. Following the completion of the purchase, the chief executive officer directly owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. This trade represents a 2.46% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 11,317,604 shares of company stock valued at $298,784,746. Company insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NP. Wells Fargo & Company MN bought a new position in Neptune Insurance during the fourth quarter worth about $28,000. PNC Financial Services Group Inc. bought a new position in Neptune Insurance during the fourth quarter worth about $125,000. FNY Investment Advisers LLC bought a new position in Neptune Insurance during the third quarter worth about $171,000. Symmetry Investments LP bought a new position in Neptune Insurance during the fourth quarter worth about $204,000. Finally, FJ Capital Management LLC bought a new position in Neptune Insurance during the fourth quarter worth about $289,000.

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.