Neptune Insurance (NYSE:NP) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Neptune Insurance (NYSE:NP) in a research note published on Monday morning, Marketbeat reports. The firm issued a buy rating and a $30.00 price objective on the stock.

NP has been the topic of a number of other reports. Evercore ISI started coverage on Neptune Insurance in a report on Monday. They issued an “outperform” rating and a $35.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Neptune Insurance in a report on Monday. They issued a “market perform” rating and a $25.00 price target on the stock. Piper Sandler assumed coverage on shares of Neptune Insurance in a research note on Monday. They set an “overweight” rating and a $33.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Neptune Insurance in a report on Monday. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Keefe, Bruyette & Woods started coverage on shares of Neptune Insurance in a report on Monday. They set a “market perform” rating and a $26.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.54.

Neptune Insurance Price Performance

NYSE NP opened at $25.51 on Monday. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -15.55 and a beta of 1.46. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.01 and a quick ratio of 1.22. The stock’s fifty day moving average price is $29.91 and its 200 day moving average price is $31.27. Neptune Insurance has a 1 year low of $22.30 and a 1 year high of $33.23.

Insiders Place Their Bets

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total value of $15,377,306.25. Following the completion of the transaction, the insider owned 19,530,472 shares in the company, valued at approximately $366,196,350. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Vii L.P. Ftv sold 678,019 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $18.75, for a total transaction of $12,712,856.25. Following the sale, the insider directly owned 22,350,631 shares in the company, valued at approximately $419,074,331.25. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.63% of the stock is currently owned by insiders.

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.