Neptune Insurance (NYSE:NP) Shares Up 4.6% – Here’s What Happened

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) traded up 4.6% on Friday . The company traded as high as $25.16 and last traded at $25.1850. 61,681 shares were traded during trading, a decline of 88% from the average session volume of 522,050 shares. The stock had previously closed at $24.08.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore reissued an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Mizuho lifted their target price on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Keefe, Bruyette & Woods upped 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. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Finally, BMO Capital Markets raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $25.00 to $20.00 in a research report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.73.

Neptune Insurance Stock Up 5.2%

The stock has a market cap of $3.50 billion and a price-to-earnings ratio of 93.91. The business has a 50-day moving average of $26.50 and a 200-day moving average of $25.12.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. Neptune Insurance’s revenue for the quarter was up 28.8% compared to the same quarter last year. Equities analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Activity at Neptune Insurance

In related news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the completion of the sale, the insider owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $20,798,078.40. Following the sale, the insider directly owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. The trade was a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,317,604 shares of company stock valued at $298,784,746. Insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new stake in shares of Neptune Insurance in the fourth quarter worth about $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Neptune Insurance in the fourth quarter worth about $125,000. FNY Investment Advisers LLC acquired a new stake in shares of Neptune Insurance in the third quarter worth about $171,000. Symmetry Investments LP acquired a new stake in shares of Neptune Insurance in the fourth quarter worth about $204,000. Finally, FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance in the fourth quarter worth about $289,000.

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.