Williamson Legacy Group LLC purchased a new position in Lemonade, Inc. (NYSE:LMND – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,180 shares of the company’s stock, valued at approximately $1,009,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in Lemonade in the fourth quarter worth approximately $35,000. Strategic Advocates LLC acquired a new position in Lemonade in the third quarter worth approximately $33,000. Tsfg LLC acquired a new position in Lemonade in the third quarter worth approximately $54,000. Farther Finance Advisors LLC grew its position in Lemonade by 127.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,024 shares of the company’s stock worth $73,000 after buying an additional 573 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in Lemonade in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 80.30% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on LMND shares. Keefe, Bruyette & Woods raised their price objective on shares of Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 24th. UBS Group set a $75.00 price objective on shares of Lemonade in a research note on Thursday, May 21st. Wolfe Research set a $44.00 price objective on shares of Lemonade in a research note on Tuesday, February 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research note on Tuesday. Finally, Truist Financial decreased their price objective on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Lemonade has a consensus rating of “Hold” and an average target price of $64.89.
Insider Activity
In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of Lemonade stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total transaction of $187,477.50. Following the completion of the sale, the insider owned 76,729 shares of the company’s stock, valued at $4,028,272.50. This trade represents a 4.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 5,567 shares of company stock worth $287,517. Company insiders own 12.50% of the company’s stock.
Lemonade Stock Performance
Lemonade stock opened at $57.41 on Wednesday. The company has a 50 day moving average price of $60.47 and a 200 day moving average price of $68.46. Lemonade, Inc. has a 52 week low of $31.00 and a 52 week high of $99.90. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -30.70 and a beta of 1.85.
Lemonade (NYSE:LMND – Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. The company had revenue of $258.00 million during the quarter, compared to analyst estimates of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The company’s revenue for the quarter was up 70.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.86) EPS. Equities analysts forecast that Lemonade, Inc. will post -1.67 earnings per share for the current fiscal year.
About Lemonade
Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.
The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.
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