Neptune Insurance (NYSE:NP) Trading 8% Higher – Should You Buy?

Neptune Insurance Holdings Inc. (NYSE:NP) shot up 8% on Friday . The company traded as high as $29.47 and last traded at $29.6350. Approximately 116,727 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 529,947 shares. The stock had previously closed at $27.44.

Analyst Upgrades and Downgrades

Several research analysts have commented on NP shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Morgan Stanley raised their price objective on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods lifted their price objective on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Finally, Bank of America raised their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.73.

Neptune Insurance Stock Up 8.8%

The stock has a market capitalization of $4.13 billion and a price-to-earnings ratio of 110.56. The company has a 50 day simple moving average of $27.43 and a 200-day simple moving average of $25.56.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company 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. As a group, sell-side analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Neptune Insurance

In related news, major shareholder Vii L.P. Ftv sold 787,806 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the transaction, the insider directly owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. This represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the stock in a transaction that occurred 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 transaction, the insider owned 14,252,718 shares in the company, valued at approximately $376,271,755.20. The trade was a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 11,317,604 shares of company stock valued at $298,784,746. Insiders own 74.26% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN bought a new position in shares of Neptune Insurance in the 4th quarter worth $28,000. PNC Financial Services Group Inc. increased its stake in Neptune Insurance by 73.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after purchasing an additional 3,146 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Neptune Insurance during the third quarter worth $171,000. Symmetry Investments LP bought a new position in shares of Neptune Insurance in the fourth quarter valued at $204,000. Finally, FJ Capital Management LLC acquired a new position in shares of Neptune Insurance during the fourth quarter valued at about $289,000.

Neptune Insurance Company Profile

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.