Neptune Insurance (NYSE:NP) Major Shareholder Hold 101 Lp Bsiv Sells 4,589,351 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $121,158,866.40. Following the sale, the insider owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. The trade was a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 shares were sold at an average price of $26.40, for a total value of $18,173,839.20.

Neptune Insurance Price Performance

NP stock opened at $26.70 on Wednesday. The firm’s fifty day simple moving average is $25.13 and its 200-day simple moving average is $25.00. The company has a market capitalization of $3.69 billion and a P/E ratio of 98.90. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $33.23.

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

Analysts Set New Price Targets

Several analysts have recently commented on NP shares. BMO Capital Markets raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $25.00 to $20.00 in a report on Friday, February 13th. Bank of America upped their target price on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Morgan Stanley lowered their target price on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 4th. Keefe, Bruyette & Woods upped their target price on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Evercore restated an “outperform” rating on shares of Neptune Insurance in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.42.

Institutional Trading of Neptune Insurance

A number of hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN purchased a new stake in Neptune Insurance during the fourth quarter worth $28,000. PNC Financial Services Group Inc. boosted its position in Neptune Insurance by 73.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after purchasing an additional 3,146 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Neptune Insurance during the third quarter worth approximately $171,000. Symmetry Investments LP purchased a new position in Neptune Insurance during the fourth quarter worth approximately $204,000. Finally, FJ Capital Management LLC purchased a new position in Neptune Insurance during the fourth 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.