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

Neptune Insurance’s (NYSE:NP) lock-up period will expire 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 end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho raised shares of Neptune Insurance from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $26.00 to $24.00 in a report on Wednesday, February 25th. BMO Capital Markets raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $25.00 to $20.00 in a report on Friday, February 13th. Keefe, Bruyette & Woods upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $26.00 to $25.00 in a research report on Thursday, February 19th. Piper Sandler reduced their target price on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Finally, Weiss Ratings began coverage on shares of Neptune Insurance in a research report on Wednesday, December 24th. They issued a “sell (d)” rating for the company. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Neptune Insurance has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Neptune Insurance Stock Performance

Shares of NP stock opened at $21.87 on Monday. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $33.23. The firm has a market capitalization of $3.02 billion and a PE ratio of 99.41. The stock has a fifty day moving average of $22.58 and a two-hundred day moving average of $25.92.

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

Insider Activity

In related news, Director Michael Warren Vostrizansky purchased 23,000 shares of the company’s stock in a transaction on Friday, February 20th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the transaction, the director owned 23,000 shares of the company’s stock, valued at $494,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Trevor R. Burgess purchased 50,000 shares of Neptune Insurance stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $18.71 per share, with a total value of $935,500.00. Following the completion of the purchase, the chief executive officer 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.

Hedge Funds Weigh In On Neptune Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance in the 4th quarter worth $28,000. PNC Financial Services Group Inc. bought a new position in Neptune Insurance during the fourth quarter valued at about $125,000. FNY Investment Advisers LLC acquired a new position in Neptune Insurance during the third quarter worth about $171,000. Symmetry Investments LP acquired a new position in Neptune Insurance during the fourth quarter worth about $204,000. Finally, FJ Capital Management LLC bought a new stake in Neptune Insurance in the fourth quarter worth about $289,000.

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.