Trupanion (NASDAQ:TRUP) Shares Gap Down on Insider Selling

Shares of Trupanion, Inc. (NASDAQ:TRUP) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $31.84, but opened at $30.09. Trupanion shares last traded at $30.0080, with a volume of 106,940 shares.

Specifically, CFO Fawwad Qureshi sold 6,111 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $30.01, for a total transaction of $183,391.11. Following the completion of the sale, the chief financial officer owned 4,230 shares in the company, valued at approximately $126,942.30. This represents a 59.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analysts Forecast Growth

TRUP has been the subject of a number of analyst reports. Zacks Research lowered Trupanion from a “strong-buy” rating to a “hold” rating in a research report on Monday. Piper Sandler lowered shares of Trupanion from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $32.00 in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of Trupanion from $28.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, August 20th. Atlantic Securities set a $42.00 price target on shares of Trupanion in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Trupanion from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Trupanion has an average rating of “Hold” and an average price target of $39.20.

Trupanion Stock Down 1.8%

The stock has a fifty day moving average of $26.88 and a 200 day moving average of $25.97. The firm has a market capitalization of $1.30 billion, a P/E ratio of 55.94, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.77.

Trupanion (NASDAQ:TRUP) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Trupanion had a return on equity of 5.96% and a net margin of 1.53%.The firm had revenue of $392.93 million during the quarter, compared to the consensus estimate of $389.72 million. During the same quarter in the prior year, the company earned $0.22 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts anticipate that Trupanion, Inc. will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Trupanion

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in Trupanion by 2,314.7% during the second quarter. California State Teachers Retirement System now owns 1,166,023 shares of the financial services provider’s stock worth $28,882,000 after buying an additional 1,117,735 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Trupanion in the second quarter valued at about $1,679,000. Bank of America Corp DE bought a new position in shares of Trupanion during the 2nd quarter valued at approximately $14,262,000. Jupiter Topco LLC bought a new position in shares of Trupanion during the 2nd quarter valued at approximately $370,000. Finally, PDT Partners LLC bought a new position in shares of Trupanion during the 2nd quarter valued at approximately $1,044,000.

Trupanion Company Profile

Trupanion, Inc is a pet medical insurance company that provides comprehensive insurance coverage for cats and dogs. The company’s core offering is a single, customizable medical policy designed to cover veterinary diagnostic tests, surgeries, hospital stays and congenital or hereditary conditions. Trupanion seeks to streamline the claims process by offering direct payment options to participating veterinarians, reducing the need for upfront payments by pet owners.

Founded in 1999 by Darryl Rawlings and headquartered in Seattle, Washington, Trupanion began operations in the early 2000s and has grown its presence through both digital channels and partnerships with veterinary hospitals.