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Trupanion, Inc. (NASDAQ:TRUP) Sees Significant Decline in Short Interest

Saturday, November 21, 2020 | MarketBeat

Trupanion, Inc. (NASDAQ:TRUP) was the recipient of a large decrease in short interest during the month of October. As of October 30th, there was short interest totalling 4,750,000 shares, a decrease of 15.2% from the October 15th total of 5,600,000 shares. Approximately 15.9% of the shares of the stock are sold short. Based on an average daily volume of 623,500 shares, the days-to-cover ratio is currently 7.6 days.

A number of equities analysts recently commented on the stock. Lake Street Capital lifted their target price on shares of Trupanion from $67.00 to $85.00 in a research report on Friday, October 30th. Northland Securities downgraded Trupanion from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $42.00 to $50.00 in a report on Wednesday, August 5th. They noted that the move was a valuation call. Stifel Nicolaus boosted their target price on Trupanion from $33.00 to $43.00 and gave the company a "hold" rating in a research note on Thursday, July 30th. BidaskClub upgraded Trupanion from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 6th. Finally, Guggenheim downgraded Trupanion from a "buy" rating to a "neutral" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Trupanion presently has a consensus rating of "Buy" and an average target price of $64.33.

In other Trupanion news, Director Murray B. Low sold 2,000 shares of Trupanion stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $62.34, for a total transaction of $124,680.00. Following the transaction, the director now directly owns 168,501 shares of the company's stock, valued at $10,504,352.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Darryl Rawlings sold 4,000 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $71.50, for a total transaction of $286,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 111,709 shares of company stock worth $9,276,581 over the last quarter. Corporate insiders own 13.61% of the company's stock.

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Trupanion by 54.9% in the 3rd quarter. BlackRock Inc. now owns 3,452,927 shares of the financial services provider's stock valued at $272,435,000 after purchasing an additional 1,223,499 shares during the period. State Street Corp boosted its holdings in shares of Trupanion by 51.6% during the 3rd quarter. State Street Corp now owns 893,907 shares of the financial services provider's stock valued at $70,529,000 after buying an additional 304,089 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Trupanion by 390.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 506,692 shares of the financial services provider's stock worth $21,630,000 after buying an additional 403,277 shares during the period. JPMorgan Chase & Co. lifted its position in Trupanion by 4,058.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 418,076 shares of the financial services provider's stock valued at $32,894,000 after acquiring an additional 408,023 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Trupanion by 61.3% in the second quarter. Nuveen Asset Management LLC now owns 373,492 shares of the financial services provider's stock worth $15,944,000 after purchasing an additional 141,982 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Shares of Trupanion stock opened at $95.93 on Friday. The business has a 50 day moving average of $84.84 and a 200 day moving average of $57.88. Trupanion has a 52 week low of $22.48 and a 52 week high of $97.89. The company has a market cap of $3.41 billion, a PE ratio of 1,918.98 and a beta of 1.54. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.19.

Trupanion (NASDAQ:TRUP) last posted its earnings results on Thursday, October 29th. The financial services provider reported ($0.07) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($0.04) by ($0.03). Trupanion had a return on equity of 1.19% and a net margin of 0.38%. The company had revenue of $130.12 million during the quarter, compared to analysts' expectations of $126.53 million. During the same period in the prior year, the business posted $0.02 earnings per share. The company's revenue for the quarter was up 31.1% on a year-over-year basis. On average, research analysts anticipate that Trupanion will post -0.05 earnings per share for the current year.

Trupanion Company Profile

Trupanion, Inc, together with its subsidiaries, provides medical insurance for cats and dogs on monthly subscription basis in the United States, Canada, and Puerto Rico. The company operates through Subscription Business and Other Business segments. It serves pet owners and veterinarians through third-party referrals and online member acquisition channels.

Further Reading: Using other technical indicators with support levels

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