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

Trupanion, Inc. (NASDAQ:TRUP)’s share price gapped down before the market opened on Wednesday after an insider sold shares in the company. 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 trading hands.

Specifically, CFO Fawwad Qureshi sold 6,111 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were 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 directly owned 4,230 shares in the company, valued at approximately $126,942.30. This trade represents a 59.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Trupanion from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Atlantic Securities set a $42.00 price objective on shares of Trupanion in a report on Wednesday, July 15th. Stifel Nicolaus upped their price objective on Trupanion from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Thursday, August 20th. Zacks Research downgraded Trupanion from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler lowered 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 report on Wednesday. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.20.

Trupanion Price Performance

The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $26.88 and its two-hundred day moving average price is $25.97. The stock has a market capitalization of $1.30 billion, a PE ratio of 55.94, a PEG ratio of 2.04 and a beta of 1.39.

Trupanion (NASDAQ:TRUP) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Trupanion had a net margin of 1.53% and a return on equity of 5.96%. The company had revenue of $392.93 million for the quarter, compared to analysts’ expectations of $389.72 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts predict that Trupanion, Inc. will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Trupanion

Several hedge funds and other institutional investors have recently modified their holdings of TRUP. BlackRock Inc. purchased a new position in shares of Trupanion in the 2nd quarter worth $134,774,000. Polar Capital Holdings Plc increased its position in Trupanion by 13.5% during the fourth quarter. Polar Capital Holdings Plc now owns 1,475,000 shares of the financial services provider’s stock valued at $55,121,000 after acquiring an additional 175,000 shares during the last quarter. State Street Corp lifted its holdings in Trupanion by 2.2% in the fourth quarter. State Street Corp now owns 1,290,987 shares of the financial services provider’s stock valued at $48,244,000 after acquiring an additional 27,385 shares during the period. Marshall Wace LLP lifted its holdings in Trupanion by 4.5% in the fourth quarter. Marshall Wace LLP now owns 1,267,262 shares of the financial services provider’s stock valued at $47,358,000 after acquiring an additional 55,111 shares during the period. Finally, California State Teachers Retirement System boosted its position in Trupanion by 2,314.7% in 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 purchasing an additional 1,117,735 shares during the last quarter.

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.