Neptune Insurance (NYSE:NP) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Neptune Insurance (NYSE:NP) in a research note released on Monday, MarketBeat reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

A number of other research firms have also weighed in on NP. Piper Sandler started coverage on shares of Neptune Insurance in a research report on Monday. They set an “overweight” rating and a $33.00 price target on the stock. National Bankshares set a $23.00 price objective on shares of Neptune Insurance in a report on Monday. Evercore ISI started coverage on shares of Neptune Insurance in a report on Monday. They set an “outperform” rating and a $35.00 price objective for the company. Bank of America started coverage on shares of Neptune Insurance in a report on Monday. They set an “underperform” rating and a $21.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Neptune Insurance in a report on Monday. They set a “neutral” rating and a $25.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.54.

Neptune Insurance Stock Down 2.6%

NP opened at $25.68 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.01 and a quick ratio of 1.22. The company’s 50-day moving average is $30.16 and its 200 day moving average is $31.36. Neptune Insurance has a fifty-two week low of $22.30 and a fifty-two week high of $33.23. The firm has a market capitalization of $3.54 billion, a P/E ratio of -15.66 and a beta of 1.46.

Insiders Place Their Bets

In related news, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total transaction of $15,377,306.25. Following the completion of the sale, the insider directly owned 19,530,472 shares in the company, valued at $366,196,350. This represents a 4.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Vii L.P. Ftv sold 678,019 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total transaction of $12,712,856.25. Following the sale, the insider owned 22,350,631 shares of the company’s stock, valued at $419,074,331.25. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.