Trupanion (NASDAQ:TRUP) Shares Down 10.1% on Analyst Downgrade

Trupanion, Inc. (NASDAQ:TRUP) shares dropped 10.1% on Friday after Canaccord Genuity Group lowered their price target on the stock from $40.00 to $34.00. Canaccord Genuity Group currently has a buy rating on the stock. Trupanion traded as low as $21.32 and last traded at $21.38. Approximately 502,239 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 659,466 shares. The stock had previously closed at $23.78.

Other research analysts have also recently issued research reports about the stock. Evercore ISI dropped their price objective on shares of Trupanion from $35.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, February 20th. Piper Sandler dropped their target price on Trupanion from $28.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Stifel Nicolaus upped their price target on Trupanion from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its holdings in Trupanion by 247.4% during the fourth quarter. Nordea Investment Management AB now owns 37,268 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 26,540 shares during the last quarter. Liontrust Investment Partners LLP acquired a new position in Trupanion during the third quarter valued at approximately $829,000. Wellington Management Group LLP increased its stake in Trupanion by 5.3% in the third quarter. Wellington Management Group LLP now owns 1,823,530 shares of the financial services provider’s stock valued at $51,424,000 after purchasing an additional 91,895 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Trupanion by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 292,941 shares of the financial services provider’s stock worth $8,261,000 after purchasing an additional 14,044 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Trupanion by 103.1% during the fourth quarter. SG Americas Securities LLC now owns 18,819 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 9,551 shares in the last quarter.

Trupanion Trading Down 16.5 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.63 and a quick ratio of 1.63. The business’s 50-day moving average price is $25.61 and its two-hundred day moving average price is $26.71. The company has a market capitalization of $833.50 million, a P/E ratio of -31.02 and a beta of 1.76.

Trupanion (NASDAQ:TRUP) last posted its earnings results on Thursday, May 2nd. The financial services provider reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. Trupanion had a negative return on equity of 9.10% and a negative net margin of 2.31%. The firm had revenue of $306.12 million for the quarter, compared to analyst estimates of $300.51 million. During the same period in the previous year, the company posted ($0.60) earnings per share. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, analysts forecast that Trupanion, Inc. will post -0.43 EPS for the current fiscal year.

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.