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 business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $18,173,839.20. Following the completion of the sale, the insider directly owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $26.40, for a total value of $121,158,866.40.

Neptune Insurance Stock Down 1.6%

Shares of Neptune Insurance stock opened at $27.33 on Friday. The firm has a market cap of $3.78 billion and a P/E ratio of 101.23. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $33.23. The business has a 50-day moving average price of $25.43 and a 200 day moving average price of $25.02.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $36.96 million. Neptune Insurance’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on NP. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. BMO Capital Markets raised 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 report on Friday, February 13th. Bank of America lifted their price objective on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a research report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Neptune Insurance has an average rating of “Moderate Buy” and a consensus price target of $27.73.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors have recently bought and sold shares of the stock. Maltese Capital Management LLC acquired a new stake in Neptune Insurance in the third quarter worth about $3,200,000. Comerica Bank acquired a new stake in Neptune Insurance in the fourth quarter worth about $1,507,000. Vanguard Group Inc. acquired a new stake in Neptune Insurance in the fourth quarter worth about $47,063,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Neptune Insurance in the fourth quarter worth about $2,068,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Neptune Insurance in the fourth quarter worth about $12,260,000.

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.