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

Neptune Insurance Holdings Inc. (NYSE:NP) shares gapped up before the market opened on Thursday . The stock had previously closed at $25.15, but opened at $27.33. Neptune Insurance shares last traded at $27.2620, with a volume of 22,949 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NP. Keefe, Bruyette & Woods raised their price target on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Mizuho raised their price target on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. BMO Capital Markets raised Neptune Insurance from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $25.00 to $20.00 in a report on Friday, February 13th. Finally, Morgan Stanley raised their price target on Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Neptune Insurance has an average rating of “Moderate Buy” and an average target price of $27.73.

Neptune Insurance Price Performance

The business has a fifty day moving average price of $26.79 and a 200 day moving average price of $25.23. The company has a market capitalization of $3.81 billion and a price-to-earnings ratio of 101.98.

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

Insider Activity

In related news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 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 value of $121,158,866.40. Following the transaction, the insider directly owned 14,941,121 shares of the company’s stock, valued at $394,445,594.40. This represents a 23.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,317,604 shares of company stock valued at $298,784,746 in the last ninety days. Company insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in Neptune Insurance during the 4th quarter worth about $569,509,000. T. Rowe Price Investment Management Inc. purchased a new position in Neptune Insurance during the 4th quarter valued at about $133,488,000. Vanguard Group Inc. purchased a new position in Neptune Insurance during the 4th quarter valued at about $47,063,000. Capital World Investors purchased a new position in Neptune Insurance during the 4th quarter valued at about $32,091,000. Finally, Balyasny Asset Management L.P. purchased a new position in Neptune Insurance during the 4th quarter valued at about $29,051,000.

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.