Sparta 24 Ltd. Acquires Shares of 169,338 Lemonade, Inc. $LMND

Sparta 24 Ltd. bought a new position in shares of Lemonade, Inc. (NYSE:LMND) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 169,338 shares of the company’s stock, valued at approximately $12,053,000. Lemonade comprises 10.7% of Sparta 24 Ltd.’s holdings, making the stock its 4th largest holding.

Other hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in Lemonade by 195.9% during the 3rd quarter. Federated Hermes Inc. now owns 157,592 shares of the company’s stock valued at $8,436,000 after acquiring an additional 104,342 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Lemonade during the third quarter worth approximately $9,060,000. Pursue Wealth Partners LLC acquired a new stake in shares of Lemonade during the fourth quarter worth $2,814,000. Atika Capital Management LLC purchased a new position in Lemonade in the 3rd quarter valued at $3,694,000. Finally, Leo Wealth LLC acquired a new position in Lemonade in the 4th quarter valued at $2,699,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Activity

In other news, insider John Sheldon Peters sold 3,571 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly 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 document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 5,567 shares of company stock valued at $287,517 over the last quarter. 14.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LMND shares. Truist Financial lowered their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley upgraded Lemonade from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $85.00 in a research report on Tuesday, March 17th. Citizens Jmp cut their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research note on Thursday. Cantor Fitzgerald raised their price target on Lemonade from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods lifted 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 equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $64.88.

Lemonade Price Performance

LMND opened at $56.76 on Friday. Lemonade, Inc. has a 1-year low of $28.47 and a 1-year high of $99.90. The stock has a market cap of $4.36 billion, a P/E ratio of -30.35 and a beta of 2.04. The stock’s 50 day simple moving average is $60.07 and its 200 day simple moving average is $68.32.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, April 29th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.42% and a negative net margin of 16.44%.The company had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. During the same period in the previous year, the business earned ($0.86) earnings per share. Lemonade’s quarterly revenue was up 70.6% compared to the same quarter last year. Research analysts expect that Lemonade, Inc. will post -1.74 EPS for the current fiscal year.

Lemonade Profile

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.