Neptune Insurance (NYSE:NP) Major Shareholder Vii L.P. Ftv Sells 787,806 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the completion of the sale, the insider directly owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. This represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Vii L.P. Ftv also recently made the following trade(s):

• On Friday, May 15th, Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance stock. The shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60.

Neptune Insurance Trading Down 1.9%

Shares of NP opened at $26.70 on Wednesday. The company’s fifty day simple moving average is $25.13 and its 200-day simple moving average is $25.00. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $33.23. The company has a market cap of $3.69 billion and a P/E ratio of 98.90.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. Analysts predict that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Mizuho raised their price target on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Piper Sandler reduced their price target on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. BMO Capital Markets raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $25.00 to $20.00 in a research note on Friday, February 13th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.42.

Institutional Inflows and Outflows

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

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.