Trupanion (TRUP)
Insures cats and dogs through subscription coverage and direct veterinary-hospital payment.
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Sells medical insurance for cats and dogs through subscription products, partner-distributed offerings, and lower-margin business-to-business underwriting. The model is built around veterinary referrals, direct payment to hospitals, and regulated insurance subsidiaries across the U.S., Canada, Germany, Switzerland, and other Continental Europe markets.
Offers pet medical insurance for cats and dogs through the core Trupanion product, Powered by Trupanion partner offerings, Furkin and PHI Direct in Canada, and brokered or branded products in parts of Continental Europe. Subscription products generate premiums, while Other business covers lower-margin third-party underwriting, U.S. Department of Veterans Affairs and employer-sponsored programs.
Operates mainly in the United States and Canada, with activity in Germany, Switzerland, and other Continental Europe markets. The sales motion leans on Territory Partners, veterinarian education, strategic partners, direct consumer channels, and member referrals.
Executes around direct payment software that connects with veterinary practice-management systems and can pay approved invoices directly to hospitals. The business depends on veterinary-channel relationships, pet-owner willingness to insure medical costs, Pets Best runoff in Other business, and insurance-subsidiary capital rules.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 26, 2026 | Piper Sandler | Downgrade | Target: $45 | Target: $32 |
| Aug 20, 2026 | Stifel Nicolaus | Target | Target: $28 | Target: $29 |
| Jul 15, 2026 | Atlantic Equities | Target | Target: — | Target: $42 |
| Jun 26, 2026 | Stifel Nicolaus | Target | Target: $35 | Target: $28 |
| Apr 9, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $42 | Target: $34 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $398.5M · Total debt $106.9M · Total assets $930.8M · Shareholders' equity $409.7M
- Revenue
- $392.9M
- Operating income
- $6.4M
- Net income
- $6.8M
No dividends on record.
| Institutions | 77.70% | 34.09M shares | |
|---|---|---|---|
| 207 holders · as of Jun 30, 2026 | |||
| Insiders | 11.53% | 5.06M shares | |
| 23 holders · as of Sep 15, 2026 | |||
| Strategic holders | 22.94% | 10.07M shares | |
| 2 holders · as of Feb 24, 2026 | |||
| Adds to | 112.17% | ||
43.87M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 112.17%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Strategic | 13.15% | 5.77M | filed Jan 27, 2022 |
BlackRock, Inc.Institution | 12.40% | 5.44M | as of Jun 30, 2026 |
Felix Holdings BVStrategic | 9.79% | 4.30M | filed Feb 24, 2026 |
Capital World InvestorsInstitution | 8.75% | 3.84M | as of Jun 30, 2026 |
Aflac IncInstitution | 8.29% | 3.64M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 11, 2026 | Margaret Tooth | director, officer: CEO | −1,000 | $25.00 |
| Aug 28, 2026 | John R. Gallagher | officer: Chief Operating Officer | −3,604 | $29.70 |
| Aug 25, 2026 | Margaret Tooth | director, officer: CEO | −491 | $31.84 |
| Aug 26, 2026 | Fawwad Qureshi | officer: Chief Financial Officer | −6,111 | $30.01 |
| Aug 11, 2026 | Margaret Tooth | director, officer: CEO | −978 | $29.05 |
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CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Trupanion | $23.63 | +0.04% | $1.09B | 47.2 | 35.9 | 0.7 | +11.1% |
| Lemonade | $48.00 | +0.63% | $3.68B | — | — | 3.9 | +79.4% |
| MetLife | $95.92 | 0.00% | $62.18B | 18.5 | 9.1 | 0.8 | +10.0% |
| Chubb | $335.43 | −0.11% | $130.11B | 11.9 | 12.0 | 2.1 | −1.3% |
| Synchrony Financial | $72.67 | −0.08% | $24.40B | 7.7 | 7.6 | 1.3 | −21.1% |
| Chewy | $19.70 | +0.20% | $8.49B | 39.4 | 17.5 | 0.7 | +7.3% |
| Median | 15.2 | 10.6 | 1.3 | +7.3% |