Neptune Insurance (NYSE:NP) Major Shareholder Hold 101 Lp Bsiv Sells 688,403 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 14,252,718 shares in the company, valued at $376,271,755.20. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major 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 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 Price Performance

Shares of NYSE:NP traded down $0.52 during midday trading on Tuesday, hitting $26.70. The company had a trading volume of 979,872 shares, compared to its average volume of 807,446. The company has a market cap of $3.69 billion and a price-to-earnings ratio of 98.90. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $33.23. The company has a fifty day moving average of $25.13 and a two-hundred day moving average of $25.00.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 was up 28.8% on a year-over-year basis. Research analysts expect that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bregal Sagemount IV General Partner Jersey Ltd purchased a new stake in shares of Neptune Insurance during the fourth quarter worth about $569,509,000. T. Rowe Price Investment Management Inc. acquired a new position in Neptune Insurance in the fourth quarter valued at approximately $133,488,000. Vanguard Group Inc. purchased a new stake in Neptune Insurance in the fourth quarter valued at $47,063,000. Capital World Investors purchased a new stake in Neptune Insurance in the fourth quarter valued at $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Neptune Insurance in the 4th quarter worth approximately $29,051,000.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NP. Morgan Stanley decreased their price objective on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 4th. Mizuho raised their target price on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. BMO Capital Markets raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $25.00 to $20.00 in a research report on Friday, February 13th. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Finally, Bank of America raised their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Neptune Insurance currently has a consensus rating of “Moderate Buy” and a consensus target price 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.