Neptune Insurance (NYSE:NP) Major Shareholder Hold 101 Lp Bsiv Sells 4,589,351 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $121,158,866.40. Following the completion of the transaction, the insider owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. This trade represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Hold 101 Lp Bsiv also recently made the following trade(s):

• On Tuesday, May 19th, Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20.

Neptune Insurance Price Performance

NYSE NP traded down $0.52 on Tuesday, reaching $26.70. 979,872 shares of the company’s stock traded hands, compared to its average volume of 807,446. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $33.23. The stock has a 50-day simple moving average of $25.13 and a 200 day simple moving average of $25.00. The stock has a market cap of $3.69 billion and a PE ratio of 98.90.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 EPS 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 company’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, analysts anticipate that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Bank of America increased their price target 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. 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 report on Thursday, February 19th. Morgan Stanley reduced their price target on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 4th. Finally, Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Eight equities research 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, Neptune Insurance presently has a consensus rating of “Moderate Buy” and an average price target of $27.42.

Institutional Trading of Neptune Insurance

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN bought a new position in Neptune Insurance in the fourth quarter worth $28,000. PNC Financial Services Group Inc. bought a new position in Neptune Insurance in the fourth quarter worth $125,000. FNY Investment Advisers LLC bought a new position in Neptune Insurance in the third quarter worth $171,000. Symmetry Investments LP bought a new position in Neptune Insurance in the fourth quarter worth $204,000. Finally, FJ Capital Management LLC bought a new position in Neptune Insurance in the fourth quarter worth $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.