Piper Sandler Boosts Trupanion (NASDAQ:TRUP) Price Target to $45.00

Trupanion (NASDAQ:TRUP) had its price objective boosted by Piper Sandler from $38.00 to $45.00 in a research note released on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. Northland Securities boosted their price target on Trupanion from $35.00 to $45.00 and gave the company a market perform rating in a report on Thursday, September 19th. William Blair started coverage on Trupanion in a research note on Friday, July 19th. They set an outperform rating on the stock. Stifel Nicolaus raised their price target on Trupanion from $30.00 to $40.00 and gave the stock a hold rating in a research note on Monday, September 23rd. Evercore ISI upgraded shares of Trupanion to a strong-buy rating in a report on Friday, August 9th. Finally, Bank of America lifted their target price on shares of Trupanion from $47.00 to $56.00 and gave the company a buy rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trupanion has a consensus rating of Moderate Buy and an average target price of $41.83.

Trupanion Stock Performance

Shares of TRUP stock opened at $42.84 on Wednesday. The company has a market capitalization of $1.80 billion, a P/E ratio of -66.94 and a beta of 1.73. Trupanion has a fifty-two week low of $19.14 and a fifty-two week high of $49.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a 50 day moving average price of $42.18 and a two-hundred day moving average price of $32.65.

Trupanion (NASDAQ:TRUP) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.04. The business had revenue of $314.80 million during the quarter, compared to analysts’ expectations of $309.33 million. Trupanion had a negative net margin of 1.57% and a negative return on equity of 6.29%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.33) EPS. Analysts expect that Trupanion will post -0.34 earnings per share for the current year.

Insider Activity

In related news, CFO Fawwad Qureshi sold 640 shares of Trupanion stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $43.12, for a total transaction of $27,596.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Margaret Tooth sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 99,984 shares of the company’s stock, valued at $4,647,256.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Fawwad Qureshi sold 640 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was 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. In the last 90 days, insiders have sold 8,764 shares of company stock worth $405,238. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Trupanion

Several hedge funds have recently added to or reduced their stakes in TRUP. ProShare Advisors LLC boosted its stake in Trupanion by 33.8% in the 1st quarter. ProShare Advisors LLC now owns 121,417 shares of the financial services provider’s stock worth $3,352,000 after purchasing an additional 30,645 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Trupanion in the first quarter worth about $473,000. 8 Knots Management LLC purchased a new position in Trupanion in the fourth quarter worth about $21,165,000. Renaissance Technologies LLC purchased a new stake in shares of Trupanion during the second quarter valued at approximately $4,739,000. Finally, Seven Eight Capital LP bought a new stake in shares of Trupanion during the fourth quarter valued at approximately $1,399,000.

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.