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SEATTLE—Fawwad Qureshi, Chief Financial Officer at Trupanion Inc . (NASDAQ:TRUP), executed a series of stock transactions, according to a recent SEC filing. On February 26, Qureshi sold 1,373 shares of Trupanion stock at an average price of $34.215, amounting to a total of $46,977. The transaction comes as the company’s stock has declined approximately 30% year-to-date, according to InvestingPro data.
The sale was conducted under a pre-established Rule 10b5-1 trading plan, which Qureshi adopted on May 17, 2024, to diversify his financial portfolio. This plan meant that Qureshi had no discretion over the timing of the sale.
In addition to the sale, Qureshi also had 1,334 shares withheld by the company on February 25 to cover tax obligations related to the vesting of restricted stock units (RSUs). These shares, valued at $45,516, were not part of a sale.
The transactions leave Qureshi with direct ownership of 2,416 shares of Trupanion. Trupanion, based in Seattle, provides medical insurance for pets and operates under the ticker symbol TRUP on the NASDAQ exchange. With a market capitalization of $1.4 billion, the company currently appears undervalued according to InvestingPro Fair Value metrics. For deeper insights and access to 13 additional ProTips about TRUP, visit InvestingPro’s comprehensive research platform.
In other recent news, Trupanion, Inc. reported its fourth-quarter 2024 earnings, revealing a revenue increase of 14% year-over-year to $337.3 million, slightly surpassing analyst expectations. However, earnings per share (EPS) fell short of projections, with the company posting $0.04 against the expected $0.07. Despite these mixed results, Trupanion’s subscription revenue grew by 19%, reaching $227.8 million, and its total adjusted operating income rose by 30% to $35.8 million. Piper Sandler adjusted its outlook on Trupanion, lowering the price target to $52 from $57 while maintaining an Overweight rating, citing achievements in loss ratio and operating margin but acknowledging a slowdown in growth. Stifel also revised its price target for Trupanion, reducing it to $41 from $44, and retained a Hold rating, highlighting concerns over subscriber growth and retention rates. Trupanion’s strategic focus on expanding its market presence in Europe faced challenges, leading to a $5.3 million goodwill write-down related to acquisitions in the region. Despite the challenges, the company remains optimistic about its growth prospects, with plans to increase pet acquisition spending and target an adjusted operating income of $120 million to $140 million for 2025.
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