Neptune Insurance Holdings Inc. (NYSE:NP – Get Free Report) rose 8% on Friday . The stock traded as high as $29.47 and last traded at $29.6350. Approximately 116,727 shares traded hands during trading, a decline of 78% from the average daily volume of 529,947 shares. The stock had previously closed at $27.44.
Analyst Upgrades and Downgrades
Several equities analysts have commented on NP shares. Keefe, Bruyette & Woods increased their target price on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Morgan Stanley boosted their price target on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Mizuho lifted their target price on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Finally, Bank of America upped their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Neptune Insurance currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.73.
Neptune Insurance Stock Up 6.3%
Neptune Insurance (NYSE:NP – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million during the quarter, compared to analyst estimates of $36.96 million. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. On average, equities analysts expect that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.
Insiders Place Their Bets
In related news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $18,173,839.20. Following the transaction, the insider owned 14,252,718 shares in the company, valued at $376,271,755.20. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the sale, the insider directly owned 16,310,781 shares in the company, valued at $430,604,618.40. This trade represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,317,604 shares of company stock worth $298,784,746. Insiders own 74.26% of the company’s stock.
Institutional Investors Weigh In On Neptune Insurance
Several institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN bought a new stake in Neptune Insurance in the fourth quarter worth approximately $28,000. PNC Financial Services Group Inc. bought a new position in shares of Neptune Insurance during the 4th quarter worth approximately $125,000. FNY Investment Advisers LLC acquired a new stake in shares of Neptune Insurance during the 3rd quarter worth approximately $171,000. Symmetry Investments LP bought a new stake in shares of Neptune Insurance in the 4th quarter valued at $204,000. Finally, FJ Capital Management LLC bought a new stake in shares of Neptune Insurance in the 4th quarter valued at $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.
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