Trupanion (NASDAQ:TRUP) Shares Gap Up on Analyst Upgrade

Trupanion, Inc. (NASDAQ:TRUP) shares gapped up prior to trading on Friday after Bank of America raised their price target on the stock from $47.00 to $56.00. The stock had previously closed at $42.00, but opened at $43.12. Bank of America currently has a buy rating on the stock. Trupanion shares last traded at $43.88, with a volume of 104,413 shares changing hands.

Other research analysts have also issued reports about the company. Evercore ISI upgraded Trupanion to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 target price (up previously from $22.00) on shares of Trupanion in a report on Friday, August 9th. Northland Securities boosted their price target on shares of Trupanion from $35.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday. Piper Sandler upped their price objective on Trupanion from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, William Blair assumed coverage on shares of Trupanion in a report on Friday, July 19th. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Insider Buying and Selling

In related news, CFO Fawwad Qureshi sold 624 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $46.54, for a total value of $29,040.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Margaret Tooth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $46.48, for a total transaction of $348,600.00. Following the completion of the sale, the chief executive officer now owns 99,984 shares of the company’s stock, valued at $4,647,256.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Fawwad Qureshi sold 624 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $46.54, for a total value of $29,040.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,764 shares of company stock worth $405,238. 5.50% of the stock is owned by company insiders.

Institutional Trading of Trupanion

Several hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its holdings in Trupanion by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 500 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of Trupanion by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 31,269 shares of the financial services provider’s stock valued at $863,000 after acquiring an additional 561 shares during the period. WINTON GROUP Ltd raised its holdings in Trupanion by 1.9% during the second quarter. WINTON GROUP Ltd now owns 37,673 shares of the financial services provider’s stock worth $1,108,000 after purchasing an additional 685 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Trupanion by 2.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 43,060 shares of the financial services provider’s stock worth $1,188,000 after purchasing an additional 830 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Trupanion by 12.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,726 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 1,420 shares in the last quarter.

Trupanion Trading Up 4.4 %

The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -65.63 and a beta of 1.74. The firm’s 50 day moving average is $40.33 and its 200 day moving average is $31.60.

Trupanion (NASDAQ:TRUP) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. Trupanion had a negative net margin of 1.57% and a negative return on equity of 6.29%. The business had revenue of $314.80 million during the quarter, compared to analysts’ expectations of $309.33 million. During the same period in the previous year, the company earned ($0.33) earnings per share. Trupanion’s revenue for the quarter was up 16.3% on a year-over-year basis. Equities analysts forecast that Trupanion, Inc. will post -0.37 earnings per share for the current year.

Trupanion Company Profile

Trupanion, Inc, together with its subsidiaries, provides medical insurance for cats and dogs on a monthly subscription basis in the United States, Canada, Continental Europe, and Australia. The company operates in two segments, Subscription Business and Other Business. It serves pet owners and veterinarians.