Walleye Capital LLC Boosts Stake in Neptune Insurance Holdings Inc. $NP

Walleye Capital LLC raised its stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP) by 17.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 135,364 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Walleye Capital LLC owned approximately 0.10% of Neptune Insurance worth $3,274,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NP. Wells Fargo & Company MN bought a new position in shares of Neptune Insurance during the 4th quarter valued at $28,000. PNC Financial Services Group Inc. purchased a new stake in Neptune Insurance during the fourth quarter valued at $125,000. Symmetry Investments LP purchased a new position in Neptune Insurance in the fourth quarter worth about $204,000. FJ Capital Management LLC bought a new stake in shares of Neptune Insurance during the 4th quarter valued at about $289,000. Finally, BIT Capital GmbH purchased a new stake in shares of Neptune Insurance during the 4th quarter valued at about $292,000.

Neptune Insurance Trading Down 0.7%

Shares of NYSE:NP opened at $29.78 on Friday. The stock has a 50 day moving average of $29.08 and a 200 day moving average of $25.95. The company has a market cap of $4.12 billion and a PE ratio of 119.11. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $34.61.

Neptune Insurance (NYSE:NP) last released its earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The company had revenue of $55.87 million for the quarter, compared to analysts’ expectations of $52.38 million. Equities research analysts predict that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $18,173,839.20. Following the transaction, the insider owned 14,252,718 shares in the company, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 11,317,604 shares of company stock valued at $298,784,746. Corporate insiders own 74.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NP shares. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a research report on Friday, July 17th. Morgan Stanley set a $31.00 price target on shares of Neptune Insurance in a research report on Thursday. Bank of America lifted their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Piper Sandler boosted their price objective on shares of Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $34.00 price objective (up from $32.00) on shares of Neptune Insurance in a research note on Wednesday, July 8th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.68.

Neptune Insurance 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.