Rare Wolf Capital LLC Purchases Shares of 13,808 Lemonade, Inc. $LMND

Rare Wolf Capital LLC purchased a new stake in Lemonade, Inc. (NYSE:LMND) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,808 shares of the company’s stock, valued at approximately $983,000.

Several other large investors have also recently made changes to their positions in LMND. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Strategic Advocates LLC acquired a new stake in Lemonade in the 3rd quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Lemonade in the 4th quarter valued at approximately $33,000. Torren Management LLC purchased a new stake in Lemonade in the fourth quarter valued at approximately $35,000. Finally, NewEdge Advisors LLC purchased a new stake in Lemonade in the first quarter valued at approximately $35,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Piper Sandler decreased 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. Wolfe Research set a $44.00 price objective on Lemonade in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods boosted their price objective on Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday, February 24th. Morgan Stanley decreased their target price on Lemonade from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Finally, Truist Financial lowered their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.89.

Lemonade Trading Up 3.2%

Shares of LMND stock opened at $59.09 on Friday. The company has a market cap of $4.54 billion, a P/E ratio of -31.60 and a beta of 1.83. The firm has a fifty 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.

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 analysts’ consensus estimates 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 company had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $251.51 million. During the same period last year, the firm earned ($0.86) earnings per share. Lemonade’s quarterly revenue was up 70.6% on a year-over-year basis. On average, equities analysts forecast that Lemonade, Inc. will post -1.71 EPS for the current year.

Insider Activity at Lemonade

In related news, insider John Sheldon Peters sold 3,608 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was 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 of the company’s stock, valued at $4,308,574.84. This represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, insider Maya Prosor sold 1,220 shares of the 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 transaction, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. 14.70% of the stock is owned by company insiders.

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.