Trupanion (NASDAQ:TRUP) Price Target Cut to $59.00 by Analysts at Bank of America

Trupanion (NASDAQ:TRUP) had its price target lowered by investment analysts at Bank of America from $63.00 to $59.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 124.62% from the company’s previous close.

A number of other analysts have also weighed in on the company. Weiss Ratings lowered Trupanion from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 4th. Zacks Research downgraded shares of Trupanion from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. Stifel Nicolaus decreased their target price on Trupanion from $35.00 to $31.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Cantor Fitzgerald decreased their price target on shares of Trupanion from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Finally, Piper Sandler lowered their target price on Trupanion from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.80.

Trupanion Trading Up 3.8%

Shares of TRUP traded up $0.96 during midday trading on Tuesday, reaching $26.27. The company had a trading volume of 132,989 shares, compared to its average volume of 449,861. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $27.40 and a 200-day simple moving average of $34.27. Trupanion has a 1-year low of $24.15 and a 1-year high of $57.88. The stock has a market cap of $1.14 billion, a PE ratio of 58.39 and a beta of 1.66.

Trupanion (NASDAQ:TRUP) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Trupanion had a net margin of 1.35% and a return on equity of 5.39%. The business had revenue of $376.85 million during the quarter, compared to analyst estimates of $375.89 million. During the same period last year, the company earned $0.04 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts forecast that Trupanion will post 0.13 EPS for the current fiscal year.

Insider Transactions at Trupanion

In related news, COO John R. Gallagher sold 5,283 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $26.52, for a total value of $140,105.16. Following the sale, the chief operating officer directly owned 32,387 shares in the company, valued at $858,903.24. This trade represents a 14.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Emily Dreyer sold 7,792 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.15, for a total value of $219,344.80. Following the completion of the transaction, the executive owned 35,627 shares of the company’s stock, valued at $1,002,900.05. This trade represents a 17.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 21,502 shares of company stock valued at $580,315. 5.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TRUP. Campbell & CO Investment Adviser LLC acquired a new position in Trupanion during the third quarter valued at approximately $3,772,000. GSA Capital Partners LLP lifted its stake in shares of Trupanion by 827.3% in the third quarter. GSA Capital Partners LLP now owns 44,584 shares of the financial services provider’s stock valued at $1,930,000 after buying an additional 39,776 shares during the period. Tudor Investment Corp ET AL increased its stake in Trupanion by 183.7% during the third quarter. Tudor Investment Corp ET AL now owns 237,125 shares of the financial services provider’s stock valued at $10,263,000 after acquiring an additional 153,530 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Trupanion in the third quarter valued at $1,897,000. Finally, Kopion Asset Management LLC boosted its position in shares of Trupanion by 20.8% during the 3rd quarter. Kopion Asset Management LLC now owns 264,603 shares of the financial services provider’s stock valued at $11,452,000 after acquiring an additional 45,594 shares in the last quarter.

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.