5 Best Growth Stocks for 2022

1. Trupanion, Inc. (NASDAQ:TRUP)

Number of Hedge Fund Holders: 16   

Trupanion, Inc. (NASDAQ:TRUP) provides medical insurance for pets. The insurance industry has a compound annual growth rate of around 23% and Trupanion is one of the largest players in the sector. It has also built trust and confidence among customers that provides the company with a solid foundation for growth heading into 2022. 

Trupanion, Inc. (NASDAQ:TRUP) smashed market expectations on earnings per share and revenue for the third quarter by $0.01 and $3.8 million respectively. The company has a market cap of $5 billion and was founded in 2000. 

At the end of the third quarter of 2021, 16 hedge funds in the database of Insider Monkey held stakes worth $259 million in Trupanion, Inc. (NASDAQ:TRUP).

In its Q3 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Trupanion, Inc. (NASDAQ:TRUP) was one of them. Here is what the fund said:

“Trupanion reported mixed earnings results, mostly due to higher-than-expected costs of new pet acquisition. The increased spending is intended to drive future growth. We continue to believe Trupanion’s long-term growth prospects and competitive positioning remain compelling in an underpenetrated U.S. pet insurance market.”

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