SEATTLE—Murray B. Low, a director at Trupanion, Inc. (NASDAQ:TRUP), has sold a portion of his holdings in the pet insurance company. According to a recent SEC filing, Low sold 2,000 shares of common stock on November 6, 2024, at a weighted average price of $52.6733 per share. This transaction totaled approximately $105,346.
The shares were sold in multiple transactions, with prices ranging from $52.6728 to $52.9100 per share. Following this sale, Low retains ownership of 131,513 shares in Trupanion.
This transaction was executed by Christina Poler, acting as attorney-in-fact for Murray B. Low.
In other recent news, Trupanion Inc (NASDAQ:TRUP). has seen a significant uptick in its financial performance. The pet insurance company reported a 66% increase in subscription adjusted operating income, reaching $30.8 million, alongside a 15% rise in total revenue to $327.5 million. Notably, the company also launched its first branded product in Europe, marking a strategic milestone.
Lake Street Capital Markets has acknowledged Trupanion's progress by raising the price target to $65 from $50, maintaining a Buy rating on the stock. The firm noted Trupanion's solid revenue growth and year-over-year improvement in operating margin.
Trupanion's total number of subscription pets grew to over 1,032,000, with average revenue per pet increasing to $74.27. However, the other business segment's adjusted operating income dropped by 65% to $1.8 million due to lower margins.
Finally, Trupanion's full-year revenue guidance has been raised to between $1.281 billion and $1.286 billion, and the company projects Q4 2024 total revenue to be between $333 million and $338 million. These recent developments reflect a strong performance and a positive outlook for the company's future growth.
InvestingPro Insights
While Murray B. Low's recent sale of Trupanion shares might raise eyebrows, it's essential to consider the broader financial picture of the company. According to InvestingPro data, Trupanion's market capitalization stands at $2.07 billion, reflecting its significant presence in the pet insurance industry. The company has demonstrated strong revenue growth, with a 17.52% increase over the last twelve months, reaching $1.24 billion.
InvestingPro Tips highlight that Trupanion's stock has shown remarkable performance, with a 119.74% return over the past year. This aligns with the company's robust revenue growth and could explain why the stock has taken a big hit over the last week, possibly due to profit-taking by investors like Low.
Despite the recent insider sale, analysts remain optimistic about Trupanion's prospects. An InvestingPro Tip indicates that net income is expected to grow this year, and analysts predict the company will be profitable. This positive outlook is particularly noteworthy given that Trupanion was not profitable over the last twelve months.
Investors seeking a more comprehensive analysis can access 13 additional InvestingPro Tips for Trupanion, offering deeper insights into the company's financial health and market position.
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