Neptune Insurance (NYSE:NP) Major Shareholder Sells $20,798,078.40 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) 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 value of $20,798,078.40. Following the completion of the sale, the insider owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Vii L.P. Ftv also recently made the following trade(s):

• On Friday, May 15th, Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total value of $138,653,961.60.

Neptune Insurance Stock Down 1.9%

Shares of NP traded down $0.52 on Tuesday, reaching $26.70. The stock had a trading volume of 979,872 shares, compared to its average volume of 807,446. The firm has a market capitalization of $3.69 billion and a PE ratio of 98.90. The firm has a 50-day moving average of $25.13 and a 200 day moving average of $25.00. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $33.23.

Neptune Insurance (NYSE:NP) last announced its earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The company’s revenue was up 28.8% on a year-over-year basis. On average, sell-side analysts anticipate that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in shares of Neptune Insurance by 562.1% during the 1st quarter. Bank of America Corp DE now owns 37,496 shares of the company’s stock worth $907,000 after purchasing an additional 31,833 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Neptune Insurance during the 1st quarter worth $313,000. California State Teachers Retirement System purchased a new position in shares of Neptune Insurance during the 1st quarter worth $523,000. SummitTX Capital L.P. purchased a new position in shares of Neptune Insurance during the 1st quarter worth $898,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Neptune Insurance by 874.4% during the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after purchasing an additional 144,210 shares during the period.

Analyst Ratings Changes

NP has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Morgan Stanley lowered their target price on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 4th. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Finally, Keefe, Bruyette & Woods increased their target price on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Neptune Insurance has a consensus rating of “Moderate Buy” and a consensus target price of $27.42.

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.