Rare Wolf Capital LLC Buys New Stake in Lemonade, Inc. $LMND

Rare Wolf Capital LLC purchased a new stake in Lemonade, Inc. (NYSE:LMND) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,808 shares of the company’s stock, valued at approximately $983,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMND. Vanguard Group Inc. grew its position in Lemonade by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock valued at $448,822,000 after buying 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 about $9,060,000. Clear Street Group Inc. purchased a new stake in shares of Lemonade during the 4th quarter worth about $2,448,000. Pursue Wealth Partners LLC purchased a new stake in shares of Lemonade during the 4th quarter worth about $2,814,000. Finally, Halter Ferguson Financial Inc. grew its position in shares of Lemonade by 4.3% during the 4th quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock valued at $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.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Truist Financial lowered their price target on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. UBS Group set a $75.00 price objective on Lemonade in a research report on Thursday, May 21st. Wolfe Research set a $44.00 target price on Lemonade in a research note on Tuesday, February 24th. Finally, Piper Sandler dropped their price target on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $64.89.

Insider Buying and Selling

In other Lemonade news, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 company’s stock in a transaction 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 completion of the transaction, the insider directly owned 81,386 shares in the company, valued at approximately $4,308,574.84. This trade represents a 4.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 6,563 shares of company stock worth $348,125 over the last quarter. 14.70% of the stock is currently owned by insiders.

Lemonade Trading Up 3.2%

Shares of LMND opened at $59.09 on Friday. The firm has a 50-day moving average price of $58.27 and a 200 day moving average price of $66.43. Lemonade, Inc. has a 12-month low of $35.70 and a 12-month high of $99.90. The firm has a market capitalization of $4.54 billion, a P/E ratio of -31.60 and a beta of 1.83.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.11. The business had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The business’s revenue for the quarter was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.86) EPS. Equities research analysts predict that Lemonade, Inc. will post -1.71 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.