Vii L.P. Ftv Sells 787,806 Shares of Neptune Insurance (NYSE:NP) Stock

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $20,798,078.40. Following the sale, the insider directly owned 16,310,781 shares of the company’s stock, valued at $430,604,618.40. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Vii L.P. Ftv also recently made the following trade(s):

• On Friday, May 15th, Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total value of $138,653,961.60.

Neptune Insurance Stock Performance

NYSE NP traded down $0.52 during trading on Tuesday, reaching $26.70. 979,872 shares of the company’s stock were exchanged, compared to its average volume of 807,446. The stock has a market cap of $3.69 billion and a P/E ratio of 98.90. The company has a 50 day moving average price of $25.13 and a two-hundred day moving average price of $25.00. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $33.23.

Neptune Insurance (NYSE:NP) last announced 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 for the quarter, compared to analysts’ expectations of $36.96 million. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. Research analysts forecast that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Morgan Stanley reduced their target price on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, March 4th. Keefe, Bruyette & Woods upped their price objective on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. BMO Capital Markets raised Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $25.00 to $20.00 in a research note on Friday, February 13th. Finally, Mizuho upped their price objective on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.42.

Hedge Funds Weigh In On Neptune Insurance

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN acquired a new stake in shares of Neptune Insurance in the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. grew its holdings in shares of Neptune Insurance by 73.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after acquiring an additional 3,146 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Neptune Insurance in the 3rd quarter worth approximately $171,000. Symmetry Investments LP acquired a new stake in shares of Neptune Insurance in the 4th quarter worth approximately $204,000. Finally, FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance in the 4th quarter worth approximately $289,000.

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.