Havemeyer Place LP acquired a new position in Lemonade, Inc. (NYSE:LMND – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,327 shares of the company’s stock, valued at approximately $735,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Lemonade by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock worth $448,822,000 after acquiring an additional 26,312 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Lemonade in the third quarter worth approximately $9,060,000. Pursue Wealth Partners LLC acquired a new position in shares of Lemonade in the fourth quarter worth approximately $2,814,000. Atika Capital Management LLC acquired a new position in shares of Lemonade in the third quarter worth approximately $3,694,000. Finally, Halter Ferguson Financial Inc. lifted its stake in shares of Lemonade by 4.3% in the fourth quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock worth $42,769,000 after acquiring an additional 24,957 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Truist Financial cut their price objective on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Citizens Jmp dropped their price target on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Piper Sandler dropped their price target on Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Finally, Keefe, Bruyette & Woods boosted their price target on Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a research note on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.89.
Insider Activity at Lemonade
In other news, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares in the company, valued at $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the sale, the insider owned 81,386 shares of the company’s stock, valued at approximately $4,308,574.84. This represents a 4.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 6,563 shares of company stock valued at $348,125. Corporate insiders own 12.50% of the company’s stock.
Lemonade Stock Performance
Shares of LMND opened at $52.83 on Tuesday. Lemonade, Inc. has a 52-week low of $35.70 and a 52-week high of $99.90. The business’s 50 day moving average price is $58.77 and its two-hundred day moving average price is $67.31. The firm has a market cap of $4.06 billion, a PE ratio of -28.25 and a beta of 1.83.
Lemonade (NYSE:LMND – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The firm had revenue of $258.00 million for the quarter, compared to analyst estimates of $251.51 million. During the same period in the previous year, the firm earned ($0.86) earnings per share. The company’s revenue was up 70.6% compared to the same quarter last year. Research analysts predict that Lemonade, Inc. will post -1.69 EPS 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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