Neptune Insurance (NYSE:NP) Major Shareholder Vii L.P. Ftv Sells 5,252,044 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Vii L.P. Ftv sold 5,252,044 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $138,653,961.60. Following the completion of the transaction, the insider owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. The trade was a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% 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 Tuesday, May 19th, Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock. The shares were sold at an average price of $26.40, for a total transaction of $20,798,078.40.

Neptune Insurance Stock Down 1.9%

NYSE NP opened at $26.70 on Wednesday. The company has a market cap of $3.69 billion and a PE ratio of 98.90. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $33.23. The firm’s 50-day simple moving average is $25.13 and its two-hundred day simple moving average is $25.00.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $36.96 million. The firm’s 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 EPS for the current year.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN purchased a new stake in shares of Neptune Insurance in the fourth quarter worth $28,000. PNC Financial Services Group Inc. purchased a new stake in shares of Neptune Insurance in the fourth quarter worth $125,000. FNY Investment Advisers LLC purchased a new stake in shares of Neptune Insurance in the third quarter worth $171,000. Symmetry Investments LP purchased a new stake in Neptune Insurance in the fourth quarter valued at approximately $204,000. Finally, FJ Capital Management LLC purchased a new stake in Neptune Insurance in the fourth quarter valued at approximately $289,000.

Wall Street Analyst Weigh In

NP has been the topic of several recent research reports. Morgan Stanley dropped their target price on 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. Evercore reissued an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Keefe, Bruyette & Woods increased their price target on shares of Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Mizuho increased their price target on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, Piper Sandler lowered their price target on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Eight equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.42.

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.