Emerald Advisers LLC Sells 104,662 Shares of Neptune Insurance Holdings Inc. $NP

Emerald Advisers LLC trimmed its holdings in shares of Neptune Insurance Holdings Inc. (NYSE:NP) by 92.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,555 shares of the company’s stock after selling 104,662 shares during the quarter. Emerald Advisers LLC’s holdings in Neptune Insurance were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance during the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. bought a new position in shares of Neptune Insurance in the fourth quarter worth approximately $125,000. FNY Investment Advisers LLC purchased a new stake in Neptune Insurance in the third quarter valued at approximately $171,000. Symmetry Investments LP purchased a new stake in Neptune Insurance in the fourth quarter valued at approximately $204,000. Finally, FJ Capital Management LLC bought a new stake in Neptune Insurance during the fourth quarter valued at approximately $289,000.

Neptune Insurance Price Performance

Shares of NYSE NP opened at $31.86 on Wednesday. The stock has a market capitalization of $4.41 billion and a P/E ratio of 118.00. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $34.61. The firm’s 50 day simple moving average is $28.78 and its two-hundred day simple moving average is $25.90.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million during the quarter, compared to the consensus estimate of $36.96 million. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, equities analysts expect that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 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 $20,798,078.40. Following the completion of the sale, the insider directly owned 16,310,781 shares of the company’s stock, valued at $430,604,618.40. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction dated 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 sale, the insider owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,317,604 shares of company stock valued at $298,784,746 over the last three months. 74.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NP shares. JPMorgan Chase & Co. boosted their price target on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley lifted their price objective on shares of Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $34.00 price target (up from $32.00) on shares of Neptune Insurance in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company began coverage on Neptune Insurance in a research note on Tuesday, June 30th. They set an “overweight” rating and a $35.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.18.

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.