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

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the transaction, the insider directly owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40.

Neptune Insurance Stock Performance

NYSE:NP traded down $0.52 during mid-day trading on Tuesday, reaching $26.70. 979,872 shares of the company’s stock were exchanged, compared to its average volume of 807,446. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $33.23. The firm has a market capitalization of $3.69 billion and a PE ratio of 98.90. The business’s fifty 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 results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting 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 firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. As a group, equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on NP. Keefe, Bruyette & Woods raised 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. Bank of America raised their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Piper Sandler lowered their price target on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Finally, Morgan Stanley lowered their price target on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.42.

Institutional Trading of Neptune Insurance

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in shares of Neptune Insurance by 562.1% in the 1st quarter. Bank of America Corp DE now owns 37,496 shares of the company’s stock valued at $907,000 after acquiring an additional 31,833 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Neptune Insurance in the 1st quarter valued at $313,000. California State Teachers Retirement System bought a new stake in shares of Neptune Insurance in the 1st quarter valued at $523,000. SummitTX Capital L.P. bought a new stake in shares of Neptune Insurance in the 1st quarter valued at $898,000. Finally, Renaissance Technologies LLC increased its stake in shares of Neptune Insurance by 874.4% in the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after acquiring an additional 144,210 shares in the last quarter.

Neptune Insurance Company 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.