Neptune Insurance (NYSE:NP) Major Shareholder Sells $18,173,839.20 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. The trade was a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Hold 101 Lp Bsiv also recently made the following trade(s):

• On Friday, May 15th, Hold 101 Lp Bsiv sold 4,589,351 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total value of $121,158,866.40.

Neptune Insurance Trading Down 1.9%

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. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $33.23. The firm has a 50-day moving average of $25.13 and a 200-day moving average of $25.00. The company has a market capitalization of $3.69 billion and a price-to-earnings ratio of 98.90.

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

Institutional Investors Weigh In On Neptune Insurance

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN purchased a new position in shares of Neptune Insurance in the fourth quarter worth about $28,000. PNC Financial Services Group Inc. purchased a new position in Neptune Insurance during the 4th quarter valued at about $125,000. FNY Investment Advisers LLC bought a new stake in Neptune Insurance during the 3rd quarter valued at approximately $171,000. Symmetry Investments LP bought a new stake in Neptune Insurance during the 4th quarter valued at approximately $204,000. Finally, FJ Capital Management LLC bought a new stake in Neptune Insurance during the 4th quarter valued at approximately $289,000.

Wall Street Analyst Weigh In

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 research report on Monday, April 20th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Mizuho raised their target price on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Morgan Stanley decreased their price target on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. Finally, Piper Sandler decreased their price target on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.42.

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.