Neptune Insurance (NYSE:NP) Major Shareholder Vii L.P. Ftv Sells 5,252,044 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance stock in a transaction on 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 sale, the insider directly owned 17,098,587 shares of the company’s stock, valued at $451,402,696.80. This trade represents a 23.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major 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 Performance

Shares of Neptune Insurance stock traded down $0.52 during midday trading on Tuesday, reaching $26.70. 979,872 shares of the company’s stock traded hands, compared to its average volume of 807,446. The company has a market cap of $3.69 billion and a price-to-earnings ratio of 98.90. The company’s 50 day simple moving average is $25.13 and its 200 day simple moving average is $25.00. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $33.23.

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 analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to the consensus estimate of $36.96 million. The business’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, equities research analysts predict that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in Neptune Insurance by 562.1% during the first quarter. Bank of America Corp DE now owns 37,496 shares of the company’s stock worth $907,000 after acquiring an additional 31,833 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Neptune Insurance during the first quarter worth $313,000. California State Teachers Retirement System bought a new stake in Neptune Insurance during the first quarter worth $523,000. SummitTX Capital L.P. bought a new stake in Neptune Insurance during the first quarter worth $898,000. Finally, Renaissance Technologies LLC raised its position in Neptune Insurance by 874.4% during the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after acquiring an additional 144,210 shares in the last quarter.

Analysts Set New Price Targets

NP has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a research note on Friday, May 8th. BMO Capital Markets raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $25.00 to $20.00 in a research note on Friday, February 13th. Finally, Bank of America upped their target price 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. 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 company’s stock. According to data from MarketBeat.com, Neptune Insurance presently has an average 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.