Neptune Insurance (NYSE:NP) Major Shareholder Vii L.P. Ftv Sells 1,867,840 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Vii L.P. Ftv sold 1,867,840 shares of Neptune Insurance stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total transaction of $62,049,644.80. Following the completion of the transaction, the insider directly owned 14,442,941 shares in the company, valued at $479,794,500.02. The trade was a 11.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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.
• 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 transaction of $138,653,961.60.

Neptune Insurance Trading Up 0.6%

Shares of NYSE:NP traded up $0.18 during trading on Friday, hitting $31.84. 998,533 shares of the stock were exchanged, compared to its average volume of 740,123. The company has a market cap of $4.37 billion and a PE ratio of 127.36. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $35.15. The company has a fifty day moving average price of $29.61 and a two-hundred day moving average price of $26.14.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $55.87 million during the quarter, compared to analysts’ expectations of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. Equities research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NP shares. Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Evercore restated an “outperform” rating and set a $36.00 price objective on shares of Neptune Insurance in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research report on Friday, July 17th. Finally, Mizuho upped their price target on shares of Neptune Insurance from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.46.

Hedge Funds Weigh In On Neptune Insurance

A number of hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN bought a new position in Neptune Insurance during the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Neptune Insurance in the 4th quarter valued at approximately $125,000. Symmetry Investments LP acquired a new stake in shares of Neptune Insurance during the 4th quarter valued at approximately $204,000. FJ Capital Management LLC bought a new position in Neptune Insurance during the fourth quarter worth $289,000. Finally, BIT Capital GmbH bought a new position in Neptune Insurance during the fourth quarter worth $292,000.

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.