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

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) gapped up prior to trading on Wednesday following insider buying activity. 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 changing hands.

Specifically, Director Michael Warren Vostrizansky purchased 23,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased 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 approximately $494,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James Financial set a $24.00 target price on Neptune Insurance in a research note on Monday. Keefe, Bruyette & Woods upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $26.00 to $25.00 in a report on Thursday, February 19th. Weiss Ratings assumed coverage on shares of Neptune Insurance in a research note on Wednesday, December 24th. They issued a “sell (d)” rating for the company. The Goldman Sachs Group reissued a “buy” rating and set a $32.50 target price on shares of Neptune Insurance in a research note on Wednesday, January 7th. Finally, Mizuho raised shares of Neptune Insurance from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $24.00 in a research note on Wednesday. Eight 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.65.

Neptune Insurance Price Performance

The stock has a fifty day moving average of $25.14 and a 200 day moving average of $27.22. The firm has a market capitalization of $2.96 billion and a P/E ratio of 194.73.

Neptune Insurance (NYSE:NP) last announced its earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $43.77 million for the quarter, compared to analysts’ expectations of $39.42 million.

Institutional Trading of Neptune Insurance

Several hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. bought a new position in shares of Neptune Insurance during the 4th quarter valued at approximately $133,488,000. XTX Topco Ltd purchased a new position in Neptune Insurance in the fourth quarter valued at approximately $361,000. Zimmer Partners LP purchased a new position in Neptune Insurance in the fourth quarter valued at approximately $3,645,000. Symmetry Investments LP purchased a new stake in Neptune Insurance in the fourth quarter worth $204,000. Finally, Readystate Asset Management LP bought a new stake in shares of Neptune Insurance in the fourth quarter valued at $1,448,000.

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.