Emerald Advisers LLC Sells 104,662 Shares of Neptune Insurance Holdings Inc. $NP

Emerald Advisers LLC lessened its stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP) by 92.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,555 shares of the company’s stock after selling 104,662 shares during the quarter. Emerald Advisers LLC’s holdings in Neptune Insurance were worth $207,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on NP. Mizuho boosted their price target on Neptune Insurance from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their price objective on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley lifted their price objective on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Bank of America boosted their target price on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Finally, Evercore restated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.18.

Neptune Insurance Stock Performance

NP stock opened at $31.86 on Wednesday. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $34.61. The company has a market capitalization of $4.41 billion and a price-to-earnings ratio of 118.00. The business’s 50 day moving average price is $28.78 and its two-hundred day moving average price is $25.90.

Neptune Insurance (NYSE:NP) last released its earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. The business’s revenue was up 28.8% on a year-over-year basis. Sell-side analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Neptune Insurance

In other news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the company’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 $138,653,961.60. Following the sale, the insider directly owned 17,098,587 shares of the company’s stock, valued at $451,402,696.80. This represents a 23.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $394,445,594.40. The trade was a 23.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,317,604 shares of company stock valued at $298,784,746 in the last three months. Insiders own 74.26% of the company’s stock.

Neptune Insurance 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.