Trupanion (NASDAQ:TRUP) Hits New 12-Month High Following Earnings Beat

Trupanion, Inc. (NASDAQ:TRUP)’s share price reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $57.90 and last traded at $56.51, with a volume of 67455 shares traded. The stock had previously closed at $55.12.

The financial services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. Trupanion had a negative return on equity of 6.29% and a negative net margin of 1.57%. The business had revenue of $327.50 million for the quarter, compared to the consensus estimate of $321.79 million. During the same period in the prior year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis.

Analyst Ratings Changes

Several brokerages have recently commented on TRUP. Evercore ISI raised Trupanion to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler increased their price objective on Trupanion from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on Trupanion from $30.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Northland Securities increased their price target on Trupanion from $35.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Finally, William Blair began coverage on Trupanion in a research report on Friday, July 19th. They set an “outperform” rating for the company. Four investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.83.

Insider Activity

In related news, CFO Fawwad Qureshi sold 640 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.12, for a total value of $27,596.80. The sale 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 Trupanion stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.48, for a total value of $348,600.00. Following the completion of the transaction, the chief executive officer now directly owns 99,984 shares in the company, valued at approximately $4,647,256.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Fawwad Qureshi sold 640 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $43.12, for a total value of $27,596.80. The disclosure for this sale can be found here. Insiders have sold 8,764 shares of company stock valued at $405,238 in the last 90 days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TRUP. Vanguard Group Inc. grew its stake in Trupanion by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,673,791 shares of the financial services provider’s stock valued at $101,433,000 after acquiring an additional 32,485 shares in the last quarter. 8 Knots Management LLC grew its position in shares of Trupanion by 87.0% during the 1st quarter. 8 Knots Management LLC now owns 1,297,485 shares of the financial services provider’s stock valued at $35,824,000 after purchasing an additional 603,775 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Trupanion by 11.9% in the second quarter. Marshall Wace LLP now owns 1,094,589 shares of the financial services provider’s stock worth $32,181,000 after purchasing an additional 116,496 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Trupanion in the second quarter worth $4,739,000. Finally, Dimensional Fund Advisors LP boosted its stake in Trupanion by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 137,833 shares of the financial services provider’s stock valued at $4,052,000 after buying an additional 26,941 shares during the period.

Trupanion Stock Performance

The company has a 50-day moving average of $46.73 and a 200 day moving average of $35.87. The firm has a market capitalization of $2.34 billion, a PE ratio of -86.13 and a beta of 1.73. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.42.

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.