Neptune Insurance (NYSE:NP) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.53 and traded as high as $29.39. Neptune Insurance shares last traded at $27.8430, with a volume of 674,218 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on NP shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research report on Monday, April 20th. Bank of America lifted their price objective on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Evercore reissued an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Mizuho boosted their price objective on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Neptune Insurance currently has a consensus rating of “Moderate Buy” and an average target price of $27.73.

Neptune Insurance Stock Performance

The firm has a market cap of $3.85 billion and a P/E ratio of 103.12. The firm’s fifty day moving average is $27.37 and its 200 day moving average is $25.53.

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 the consensus estimate of $0.09. The company had revenue of $37.80 million during the quarter, compared to the consensus estimate of $36.96 million. Neptune Insurance’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s 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 transaction, the insider directly owned 14,252,718 shares of the company’s stock, valued at $376,271,755.20. This represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 787,806 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 $20,798,078.40. Following the sale, the insider directly owned 16,310,781 shares of the company’s stock, valued at $430,604,618.40. This represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,317,604 shares of company stock valued at $298,784,746 over the last 90 days. 74.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NP. Wells Fargo & Company MN acquired a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $125,000. FNY Investment Advisers LLC acquired a new stake in Neptune Insurance during the third quarter worth approximately $171,000. Symmetry Investments LP acquired a new stake in Neptune Insurance during the fourth quarter worth approximately $204,000. Finally, FJ Capital Management LLC bought a new position in Neptune Insurance during the 4th quarter worth $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.