Neptune Insurance (NYSE:NP) Research Coverage Started at Raymond James Financial

Raymond James Financial initiated coverage on shares of Neptune Insurance (NYSE:NP) in a research note issued to investors on Monday, Marketbeat.com reports. The firm issued an outperform rating and a $30.00 price target on the stock.

Several other research firms also recently commented on NP. Morgan Stanley started coverage on Neptune Insurance in a research report on Monday. They issued an “equal weight” rating and a $26.00 target price on the stock. TD Cowen started coverage on Neptune Insurance in a report on Monday. They issued a “buy” rating and a $32.00 price objective on the stock. National Bankshares set a $23.00 price objective on Neptune Insurance in a research report on Monday. The Goldman Sachs Group initiated coverage on shares of Neptune Insurance in a research report on Monday. They issued a “buy” rating and a $30.00 target price for the company. Finally, Cowen started coverage on shares of Neptune Insurance in a research report on Monday. They set a “buy” rating on the stock. Seven investment 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 a consensus target price of $27.54.

Neptune Insurance Stock Down 0.7%

Shares of NP opened at $25.51 on Monday. The firm has a market cap of $3.52 billion, a P/E ratio of -15.55 and a beta of 1.46. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.22 and a current ratio of 2.01. Neptune Insurance has a 52 week low of $22.30 and a 52 week high of $33.23. The firm’s 50-day simple moving average is $29.91 and its 200 day simple moving average is $31.27.

Insiders Place Their Bets

In other news, major shareholder Vii L.P. Ftv sold 678,019 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 22,350,631 shares in the company, valued at approximately $419,074,331.25. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was 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 $366,196,350. The trade was a 4.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.63% of the company’s stock.

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.