Neptune Insurance (NYSE:NP) Major Shareholder Sells $138,653,961.60 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the completion of the transaction, the insider directly owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Tuesday, May 19th, Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock. The shares were sold at an average price of $26.40, for a total transaction of $20,798,078.40.

Neptune Insurance Stock Down 1.6%

NP stock opened at $27.33 on Friday. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $33.23. The firm has a market cap of $3.78 billion and a P/E ratio of 101.23. The company’s 50-day moving average price is $25.43 and its two-hundred day moving average price is $25.02.

Neptune Insurance (NYSE:NP) last released its earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm 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. Equities analysts predict that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NP shares. Keefe, Bruyette & Woods raised their price target on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Bank of America raised their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Mizuho raised their price target on shares of Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Finally, BMO Capital Markets upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $25.00 to $20.00 in a research note on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.73.

Institutional Trading of Neptune Insurance

Several hedge funds have recently modified their holdings of NP. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance in the 4th quarter valued at $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Neptune Insurance in the 4th quarter valued at $125,000. FNY Investment Advisers LLC bought a new stake in shares of Neptune Insurance in the 3rd quarter valued at $171,000. Symmetry Investments LP bought a new stake in shares of Neptune Insurance in the 4th quarter valued at $204,000. Finally, FJ Capital Management LLC bought a new stake in shares of Neptune Insurance in the 4th quarter valued at $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.