Trupanion (NASDAQ:TRUP) Shares Gap Up Following Earnings Beat

Trupanion, Inc. (NASDAQ:TRUP) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $36.44, but opened at $40.73. Trupanion shares last traded at $43.12, with a volume of 324,709 shares trading hands.

The financial services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Trupanion had a negative net margin of 0.75% and a negative return on equity of 3.08%. The business had revenue of $341.98 million for the quarter, compared to analysts’ expectations of $337.81 million. During the same period in the previous year, the company posted ($0.16) EPS. Trupanion’s revenue was up 11.7% on a year-over-year basis.

Analysts Set New Price Targets

TRUP has been the subject of several recent research reports. Piper Sandler lowered their price target on Trupanion from $57.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus cut their price target on shares of Trupanion from $44.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Finally, Lake Street Capital lowered their target price on shares of Trupanion from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.83.

Insider Buying and Selling at Trupanion

In other news, insider Brenna Mcgibney sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.99, for a total value of $164,950.00. Following the sale, the insider now directly owns 3,738 shares in the company, valued at approximately $123,316.62. This represents a 57.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Emily Dreyer sold 14,025 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.41, for a total value of $454,550.25. Following the transaction, the senior vice president now owns 27,645 shares of the company’s stock, valued at $895,974.45. This trade represents a 33.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,792 shares of company stock valued at $1,122,802 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Trupanion

A number of institutional investors have recently modified their holdings of TRUP. Check Capital Management Inc. CA lifted its holdings in Trupanion by 3.5% in the first quarter. Check Capital Management Inc. CA now owns 42,320 shares of the financial services provider’s stock valued at $1,577,000 after buying an additional 1,435 shares during the period. New York State Common Retirement Fund grew its stake in shares of Trupanion by 28.3% during the 1st quarter. New York State Common Retirement Fund now owns 83,634 shares of the financial services provider’s stock worth $3,117,000 after acquiring an additional 18,443 shares in the last quarter. Banque Pictet & Cie SA acquired a new stake in shares of Trupanion in the first quarter valued at approximately $439,000. Brown Advisory Inc. acquired a new position in Trupanion during the first quarter worth $420,000. Finally, Palisade Capital Management LP lifted its position in Trupanion by 36.7% during the 1st quarter. Palisade Capital Management LP now owns 244,354 shares of the financial services provider’s stock worth $9,107,000 after buying an additional 65,653 shares in the last quarter.

Trupanion Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.66 and a current ratio of 1.71. The company has a fifty day moving average price of $35.60 and a two-hundred day moving average price of $44.94. The company has a market cap of $1.91 billion, a P/E ratio of -195.65, a PEG ratio of 6.02 and a beta of 1.66.

About Trupanion

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.