Trupanion (NASDAQ:TRUP) Shares Up 7.2% After Earnings Beat

Shares of Trupanion, Inc. (NASDAQ:TRUP) traded up 7.2% during trading on Friday following a stronger than expected earnings report. The company traded as high as $37.63 and last traded at $37.54. 609,388 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 707,491 shares. The stock had previously closed at $35.03.

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 2.31% and a negative return on equity of 9.03%. The firm had revenue of $314.80 million for the quarter, compared to analyst estimates of $309.33 million. During the same period in the prior year, the firm earned ($0.33) earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TRUP. Bank of America raised shares of Trupanion from a “neutral” rating to a “buy” rating and lifted their target price for the company from $35.00 to $49.00 in a report on Thursday, May 16th. Canaccord Genuity Group decreased their price objective on Trupanion from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. William Blair initiated coverage on Trupanion in a research note on Friday, July 19th. They set an “outperform” rating on the stock. Piper Sandler lifted their price objective on Trupanion from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Stifel Nicolaus restated a “hold” rating and issued a $30.00 price target (up previously from $22.00) on shares of Trupanion in a research report on Friday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.17.

Insider Activity at Trupanion

In other Trupanion news, insider Melissa Joy Hewitt sold 1,200 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $30.04, for a total value of $36,048.00. Following the completion of the sale, the insider now directly owns 6,105 shares of the company’s stock, valued at approximately $183,394.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Melissa Joy Hewitt sold 1,200 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $30.04, for a total transaction of $36,048.00. Following the sale, the insider now directly owns 6,105 shares of the company’s stock, valued at $183,394.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steve Weinrauch sold 1,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $29.35, for a total value of $29,350.00. Following the completion of the transaction, the executive vice president now owns 55,896 shares of the company’s stock, valued at approximately $1,640,547.60. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new position in shares of Trupanion in the fourth quarter worth about $67,000. Headlands Technologies LLC acquired a new stake in shares of Trupanion during the second quarter worth $162,000. Victory Capital Management Inc. acquired a new position in Trupanion in the fourth quarter valued at about $211,000. Blueshift Asset Management LLC acquired a new stake in shares of Trupanion during the fourth quarter worth about $220,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Trupanion in the 2nd quarter valued at approximately $235,000.

Trupanion Stock Up 8.1 %

The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -58.66 and a beta of 1.77. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.62 and a current ratio of 1.62. The firm’s fifty day simple moving average is $30.78 and its 200 day simple moving average is $28.16.

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.