Neptune Insurance Holdings Inc.’s Quiet Period To Expire on November 10th (NYSE:NP)

Neptune Insurance’s (NYSE:NP) quiet period is set to end on Monday, November 10th. Neptune Insurance had issued 18,421,053 shares in its initial public offering on October 1st. The total size of the offering was $368,421,060 based on an initial share price of $20.00. During Neptune Insurance’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen initiated coverage on shares of Neptune Insurance in a research report on Monday, October 27th. They set a “buy” rating and a $32.00 target price for the company. Morgan Stanley started coverage on Neptune Insurance in a research note on Monday, October 27th. They issued an “equal weight” rating and a $26.00 price objective on the stock. Deutsche Bank Aktiengesellschaft began coverage on Neptune Insurance in a research report on Monday, October 27th. They set a “buy” rating and a $29.00 price objective for the company. Bank of America initiated coverage on Neptune Insurance in a report on Monday, October 27th. They issued an “underperform” rating and a $21.00 target price on the stock. Finally, BMO Capital Markets assumed coverage on Neptune Insurance in a research report on Monday, October 27th. They issued a “market perform” rating and a $25.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.54.

Neptune Insurance Trading Down 1.2%

Shares of NP opened at $25.30 on Friday. The stock’s 50-day moving average price is $29.15 and its 200 day moving average price is $31.01. The company has a quick ratio of 1.22, a current ratio of 2.01 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -15.43 and a beta of 1.46. Neptune Insurance has a 12-month low of $22.30 and a 12-month high of $33.23.

Insiders Place Their Bets

In other news, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total value of $15,377,306.25. Following the sale, the insider owned 19,530,472 shares in the company, valued at approximately $366,196,350. The trade was a 4.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vii L.P. Ftv sold 678,019 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $18.75, for a total transaction of $12,712,856.25. Following the sale, the insider owned 22,350,631 shares of the company’s stock, valued at $419,074,331.25. This trade represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. 0.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Neptune Insurance stock. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Neptune Insurance Holdings Inc. (NYSE:NP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,761 shares of the company’s stock, valued at approximately $792,000. 93.37% of the stock is currently owned by institutional investors.

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.