Trupanion (NASDAQ:TRUP) Shares Gap Down – Here’s Why

Shares of Trupanion, Inc. (NASDAQ:TRUP) gapped down before the market opened on Wednesday . 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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TRUP. Stifel Nicolaus lifted their price objective on shares of Trupanion from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, August 20th. Atlantic Securities set a $42.00 target price on shares of Trupanion in a research note on Wednesday, July 15th. Piper Sandler lowered shares of Trupanion from an “overweight” rating to a “neutral” rating and set a $32.00 price target on the stock. in a report on Wednesday. Zacks Research downgraded Trupanion from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings upgraded Trupanion from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Trupanion presently has an average rating of “Hold” and a consensus target price of $39.20.

Trupanion Stock Performance

The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.31 billion, a PE ratio of 56.48, a P/E/G ratio of 2.15 and a beta of 1.39. The firm’s 50-day simple moving average is $26.63 and its two-hundred day simple moving average is $26.02.

Trupanion (NASDAQ:TRUP) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Trupanion had a net margin of 1.53% and a return on equity of 5.96%. The business had revenue of $392.93 million during 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 business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Trupanion, Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trupanion news, CEO Margaret Tooth sold 978 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $29.05, for a total transaction of $28,410.90. Following the completion of the transaction, the chief executive officer directly owned 175,401 shares of the company’s stock, valued at approximately $5,095,399.05. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Steve Weinrauch sold 6,674 shares of Trupanion stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $22.00, for a total transaction of $146,828.00. Following the sale, the executive vice president owned 78,062 shares of the company’s stock, valued at approximately $1,717,364. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,117 shares of company stock valued at $275,123 over the last quarter. 5.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Trupanion by 60.6% in the first quarter. Royal Bank of Canada now owns 29,763 shares of the financial services provider’s stock valued at $1,109,000 after purchasing an additional 11,233 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Trupanion by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,603 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 858 shares during the period. Millennium Management LLC grew its holdings in Trupanion by 73.5% during the first quarter. Millennium Management LLC now owns 267,976 shares of the financial services provider’s stock worth $9,987,000 after acquiring an additional 113,490 shares during the period. Invesco Ltd. raised its position in Trupanion by 35.1% during the second quarter. Invesco Ltd. now owns 187,749 shares of the financial services provider’s stock valued at $10,392,000 after acquiring an additional 48,781 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new position in Trupanion in the second quarter valued at approximately $249,000.

About Trupanion

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.