Investment funds affiliated with FTV Management VII sold 6,039,850 shares of Neptune Insurance Holdings Inc. (NASDAQ:NP) Class A Common Stock for approximately $159.45 million.
The transactions occurred on May 15 and May 19, 2026, at $26.40 per share. The stock currently trades at $26.70, near the sale price.
On May 15, 5,252,044 shares were sold in connection with a public offering. On May 19, an additional 787,806 shares were sold due to underwriters' over-allotment option.
Neptune has not been profitable over the last twelve months, but analysts expect earnings of $0.55 per share this year. According to Bond.az analysis, the stock appears overvalued at current levels.
After the sales, the reporting persons indirectly hold 16,310,781 shares. FTV VII, L.P. holds 14,325,878 shares, FTV-NE Aggregator holds 992,452, and Growth VII-Centre holds 992,451.
