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Bayforest Capital Ltd Buys 24,545 Shares of Trupanion, Inc. (NASDAQ:TRUP)

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Key Points

  • Bayforest Capital Ltd significantly increased its holdings in Trupanion, Inc. by 627.4% in Q1 2023, now owning approximately $1.06 million worth of shares, making Trupanion its 23rd largest investment.
  • Several hedge funds, including Aster Capital Management which saw a 988.5% increase in their stake, have recently invested in Trupanion, indicating a growing interest among institutional investors.
  • Trupanion's stock price currently sits at $48.32, with analysts providing a consensus price target of $53.80 and an average rating of "Moderate Buy."
  • MarketBeat previews the top five stocks to own by August 1st.
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Bayforest Capital Ltd boosted its stake in shares of Trupanion, Inc. (NASDAQ:TRUP - Free Report) by 627.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,457 shares of the financial services provider's stock after acquiring an additional 24,545 shares during the quarter. Trupanion accounts for about 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 23rd largest holding. Bayforest Capital Ltd owned approximately 0.07% of Trupanion worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Trupanion in the 4th quarter worth $39,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Trupanion by 988.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,132 shares of the financial services provider's stock worth $55,000 after purchasing an additional 1,028 shares during the last quarter. Coppell Advisory Solutions LLC increased its holdings in shares of Trupanion by 58.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,249 shares of the financial services provider's stock worth $61,000 after purchasing an additional 460 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Trupanion during the fourth quarter worth approximately $201,000. Finally, Eschler Asset Management LLP bought a new stake in Trupanion during the fourth quarter worth approximately $214,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Lake Street Capital lowered their price target on Trupanion from $65.00 to $60.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Piper Sandler upped their target price on Trupanion from $52.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $53.80.

View Our Latest Research Report on TRUP

Trupanion Stock Down 1.5%

Shares of TRUP traded down $0.74 during midday trading on Wednesday, hitting $47.58. The company had a trading volume of 410,103 shares, compared to its average volume of 470,977. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. Trupanion, Inc. has a 52 week low of $29.70 and a 52 week high of $57.90. The company's 50 day moving average price is $50.83 and its 200 day moving average price is $43.93. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -475.75 and a beta of 1.82.

Trupanion (NASDAQ:TRUP - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Trupanion had a negative net margin of 0.32% and a negative return on equity of 1.33%. The firm had revenue of $341.98 million for the quarter, compared to analyst estimates of $337.81 million. During the same quarter in the prior year, the business earned ($0.16) EPS. The company's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts predict that Trupanion, Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling at Trupanion

In related news, CFO Fawwad Qureshi sold 2,534 shares of Trupanion stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $48.31, for a total transaction of $122,417.54. Following the transaction, the chief financial officer owned 3,545 shares of the company's stock, valued at $171,258.95. This trade represents a 41.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John R. Gallagher sold 4,000 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $47.90, for a total transaction of $191,600.00. Following the completion of the sale, the chief operating officer directly owned 26,966 shares in the company, valued at approximately $1,291,671.40. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,562 shares of company stock worth $544,870. 5.42% of the stock is currently owned by corporate insiders.

Trupanion Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Trupanion (NASDAQ:TRUP)

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