EFG International AG Invests $4.54 Million in Lemonade, Inc. $LMND

EFG International AG acquired a new stake in shares of Lemonade, Inc. (NYSE:LMND) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 69,766 shares of the company’s stock, valued at approximately $4,540,000. EFG International AG owned approximately 0.09% of Lemonade at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of Lemonade by 52.1% during the first quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock worth $22,591,000 after buying an additional 123,484 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Lemonade by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock valued at $448,822,000 after acquiring an additional 26,312 shares during the last quarter. Lido Advisors LLC bought a new position in shares of Lemonade in the 1st quarter valued at $1,318,000. Clear Street Group Inc. acquired a new stake in shares of Lemonade during the 4th quarter valued at $2,448,000. Finally, Halter Ferguson Financial Inc. grew its position in Lemonade by 4.3% during the 4th 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 last quarter. 80.30% of the stock is currently owned by institutional investors.

Lemonade Stock Performance

Shares of Lemonade stock opened at $54.42 on Wednesday. Lemonade, Inc. has a 52 week low of $46.16 and a 52 week high of $99.90. The stock has a 50 day moving average price of $59.73 and a two-hundred day moving average price of $59.51. The stock has a market capitalization of $4.21 billion, a PE ratio of -29.74 and a beta of 1.84.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56). Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The company had revenue of $294.40 million during the quarter, compared to the consensus estimate of $291.01 million. During the same period in the previous year, the firm posted ($0.60) earnings per share. The firm’s revenue for the quarter was up 79.4% on a year-over-year basis. Research analysts forecast that Lemonade, Inc. will post -1.85 EPS for the current year.

Insider Buying and Selling

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider directly 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 filing with the Securities & Exchange Commission, 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 11,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total transaction of $578,050.00. Following the completion of the transaction, the insider directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. This represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 21,007 shares of company stock worth $1,198,251. 12.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Truist Financial cut their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research report on Thursday, July 30th. Finally, Morgan Stanley lowered their price objective on Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 19th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.50.

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.