Insider Selling: Neptune Insurance (NYSE:NP) Major Shareholder Sells 4,589,351 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of Neptune Insurance stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.40, for a total value of $121,158,866.40. Following the completion of the sale, the insider owned 14,941,121 shares of the company’s stock, valued at $394,445,594.40. The trade was a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a 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.

Hold 101 Lp Bsiv also recently made the following trade(s):

• On Tuesday, May 19th, Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total value of $18,173,839.20.

Neptune Insurance Price Performance

NYSE NP traded down $0.52 during trading hours on Tuesday, hitting $26.70. The company’s stock had a trading volume of 979,872 shares, compared to its average volume of 807,446. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $33.23. The company’s 50 day simple moving average is $25.13 and its two-hundred day simple moving average is $25.00. The company has a market cap of $3.69 billion and a P/E ratio of 98.90.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $37.80 million during the quarter, compared to the consensus estimate of $36.96 million. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, research analysts predict that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on NP shares. BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $25.00 to $20.00 in a report on Friday, February 13th. 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. Keefe, Bruyette & Woods raised their target price on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Evercore reissued an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Eight research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Neptune Insurance during the 3rd quarter valued at about $792,000. Maltese Capital Management LLC purchased a new position in shares of Neptune Insurance during the 3rd quarter valued at about $3,200,000. FNY Investment Advisers LLC purchased a new position in shares of Neptune Insurance during the 3rd quarter valued at about $171,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Neptune Insurance during the 4th quarter valued at about $759,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Neptune Insurance during the 4th quarter valued at about $2,068,000.

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.