Neptune Insurance (NYSE:NP) Shares Gap Down – Should You Sell?

Neptune Insurance Holdings Inc. (NYSE:NP) shares gapped down before the market opened on Tuesday . The stock had previously closed at $30.68, but opened at $28.59. Neptune Insurance shares last traded at $27.2110, with a volume of 45,274 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on NP shares. Keefe, Bruyette & Woods increased their price objective on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a research note on Friday, May 8th. Bank of America increased their price objective on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Piper Sandler decreased their price objective on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Finally, Morgan Stanley decreased their price objective on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 4th. Eight 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.42.

Neptune Insurance Trading Down 2.1%

The business has a 50 day simple moving average of $24.62 and a 200-day simple moving average of $24.96. The stock has a market capitalization of $3.78 billion and a price-to-earnings ratio of 101.30.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $37.80 million during the quarter, compared to analyst estimates of $36.96 million. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. Research analysts predict that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current year.

Insider Activity

In related news, Director Michael Warren Vostrizansky bought 23,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the acquisition, the director owned 23,000 shares in the company, valued at $494,500. This represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Trevor R. Burgess bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $18.71 per share, for a total transaction of $935,500.00. Following the completion of the acquisition, the chief executive officer 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. Insiders own 74.26% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of NP. Sei Investments Co. increased its holdings in shares of Neptune Insurance by 203.3% in the 1st quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock valued at $1,430,000 after acquiring an additional 39,626 shares during the last quarter. Walleye Capital LLC increased its holdings in shares of Neptune Insurance by 17.3% in the 1st quarter. Walleye Capital LLC now owns 135,364 shares of the company’s stock valued at $3,274,000 after acquiring an additional 20,000 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings 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 valued at $180,000 after acquiring an additional 3,146 shares during the last quarter. Swiss National Bank bought a new stake in shares of Neptune Insurance in the 1st quarter valued at approximately $1,132,000. Finally, Fifth Third Bancorp bought a new stake in shares of Neptune Insurance in the 1st quarter valued at approximately $1,531,000.

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.