Neptune Insurance Holdings Inc.’s (NYSE:NP) Lock-Up Period To Expire on March 30th

Neptune Insurance’s (NYSE:NP) lock-up period is set to end on Monday, March 30th. Neptune Insurance had issued 18,421,053 shares in its public offering on October 1st. The total size of the offering was $368,421,060 based on an initial share price of $20.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

A number of research firms recently commented on NP. Weiss Ratings started coverage on shares of Neptune Insurance in a report on Wednesday, December 24th. They issued a “sell (d)” rating on the stock. Morgan Stanley reduced their target price on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, March 4th. BMO Capital Markets upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $25.00 to $20.00 in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft upped their price target on Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Mizuho upgraded Neptune Insurance from an “underperform” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $24.00 in a research report on Wednesday, February 25th. Eight 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Neptune Insurance Trading Down 1.4%

NYSE NP opened at $21.87 on Monday. The stock’s 50-day moving average price is $22.58 and its two-hundred day moving average price is $25.92. The company has a market cap of $3.02 billion and a PE ratio of 99.41. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $33.23.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $43.77 million for the quarter, compared to analysts’ expectations of $39.42 million.

Insider Activity at Neptune Insurance

In other news, Director Michael Warren Vostrizansky purchased 23,000 shares of Neptune Insurance stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average price of $21.50 per share, for a total transaction of $494,500.00. Following the transaction, the director owned 23,000 shares in the company, valued at $494,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Trevor R. Burgess acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $18.71 per share, with a total value of $935,500.00. Following the purchase, the chief executive officer directly owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. This trade represents a 2.46% increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

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

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.