Trupanion (NASDAQ:TRUP) Given New $56.00 Price Target at Bank of America

Trupanion (NASDAQ:TRUP) had its price objective upped by Bank of America from $47.00 to $56.00 in a research report report published on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus reiterated a hold rating and issued a $30.00 target price (up from $22.00) on shares of Trupanion in a report on Friday, August 9th. Northland Securities increased their price objective on Trupanion from $35.00 to $45.00 and gave the stock a market perform rating in a research report on Thursday. Piper Sandler lifted their target price on Trupanion from $30.00 to $38.00 and gave the company a neutral rating in a research report on Friday, August 9th. Evercore ISI upgraded Trupanion to a strong-buy rating in a report on Friday, August 9th. Finally, William Blair started coverage on Trupanion in a research report on Friday, July 19th. They set an outperform rating for the company. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Trupanion currently has an average rating of Moderate Buy and a consensus price target of $39.00.

Trupanion Price Performance

NASDAQ:TRUP opened at $42.80 on Friday. Trupanion has a one year low of $19.14 and a one year high of $49.14. The stock has a market cap of $1.80 billion, a PE ratio of -66.88 and a beta of 1.74. 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 $40.56 and a 200 day moving average price of $31.70.

Trupanion (NASDAQ:TRUP) last issued its earnings results on Thursday, August 8th. The financial services provider reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. The business had revenue of $314.80 million during the quarter, compared to the consensus estimate of $309.33 million. Trupanion had a negative return on equity of 6.29% and a negative net margin of 1.57%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period last year, the company earned ($0.33) EPS. Equities research analysts expect that Trupanion will post -0.37 EPS for the current fiscal year.

Insider Activity at Trupanion

In other news, CFO Fawwad Qureshi sold 640 shares of the 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 SEC, which is available at this link. In other Trupanion news, CEO Margaret Tooth sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.48, for a total value of $348,600.00. Following the completion of the transaction, the chief executive officer now owns 99,984 shares in the company, valued at $4,647,256.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Fawwad Qureshi sold 640 shares of the company’s stock in a transaction 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. Insiders sold 8,764 shares of company stock worth $405,238 in the last three months. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC boosted its stake in shares of Trupanion by 33.8% in the 1st quarter. ProShare Advisors LLC now owns 121,417 shares of the financial services provider’s stock valued at $3,352,000 after buying an additional 30,645 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Trupanion in the first quarter worth approximately $473,000. 8 Knots Management LLC acquired a new position in Trupanion during the 4th quarter worth approximately $21,165,000. Seven Eight Capital LP purchased a new stake in shares of Trupanion in the 4th quarter valued at approximately $1,399,000. Finally, Quest Partners LLC acquired a new stake in shares of Trupanion in the 4th quarter valued at $67,000.

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.