Neptune Insurance (NYSE:NP) Stock Price Up 8% – Here’s What Happened

Neptune Insurance Holdings Inc. (NYSE:NP) shot up 8% on Friday . The company traded as high as $29.47 and last traded at $29.6350. 116,727 shares traded hands during trading, a decline of 78% from the average session volume of 529,947 shares. The stock had previously closed at $27.44.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NP shares. Evercore restated an “outperform” rating on shares of Neptune Insurance in a research note on Friday, May 8th. Bank of America increased their price objective on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods lifted their target price on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Mizuho boosted their target price on shares of Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Finally, Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.73.

Neptune Insurance Stock Performance

The company has a market capitalization of $4.04 billion and a price-to-earnings ratio of 108.04. The firm has a fifty day moving average price of $27.37 and a 200-day moving average price of $25.53.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting 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 revenue was up 28.8% compared to the same quarter last year. On average, sell-side analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the completion of the sale, the insider directly owned 16,310,781 shares in the company, valued at $430,604,618.40. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance 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 completion of the transaction, the insider owned 14,252,718 shares in the company, valued at approximately $376,271,755.20. The trade was a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bregal Sagemount IV General Partner Jersey Ltd bought a new position in shares of Neptune Insurance in the fourth quarter worth about $569,509,000. T. Rowe Price Investment Management Inc. acquired a new position in Neptune Insurance during the 4th quarter worth approximately $133,488,000. Vanguard Group Inc. bought a new position in Neptune Insurance in the 4th quarter valued at approximately $47,063,000. Capital World Investors acquired a new stake in Neptune Insurance in the fourth quarter valued at approximately $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Neptune Insurance in the fourth quarter valued at approximately $29,051,000.

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.