EFG International AG Makes New Investment in Lemonade, Inc. $LMND

EFG International AG bought a new stake in shares of Lemonade, Inc. (NYSE:LMND) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 69,766 shares of the company’s stock, valued at approximately $4,540,000.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its stake in Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock valued at $958,000 after purchasing an additional 15,779 shares in the last quarter. Millennium Management LLC increased its stake in shares of Lemonade by 255.2% in the first quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock worth $10,370,000 after buying an additional 237,044 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Lemonade in the first quarter valued at $35,000. Goldman Sachs Group Inc. boosted its stake in Lemonade by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after acquiring an additional 41,759 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in Lemonade during the 2nd quarter worth $307,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Transactions at Lemonade

In related news, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the transaction, the insider directly owned 76,942 shares of the company’s stock, valued at approximately $4,043,302.10. This represents a 12.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,007 shares of company stock worth $1,198,251 in the last quarter. 12.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen restated a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. UBS Group set a $75.00 price target on Lemonade in a research report on Thursday, May 21st. Truist Financial lowered their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Finally, Morgan Stanley lowered their price objective on shares of 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 assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lemonade has a consensus rating of “Hold” and a consensus price target of $64.50.

Lemonade Stock Up 1.1%

Shares of NYSE LMND opened at $54.42 on Wednesday. The stock has a market cap of $4.21 billion, a P/E ratio of -29.74 and a beta of 1.84. The firm’s 50-day simple moving average is $59.73 and its 200 day simple moving average is $59.51. Lemonade, Inc. has a fifty-two week low of $46.16 and a fifty-two week high of $99.90.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, meeting 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 firm had revenue of $294.40 million for the quarter, compared to analysts’ expectations of $291.01 million. During the same quarter last year, the company earned ($0.60) EPS. Lemonade’s quarterly revenue was up 79.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lemonade, Inc. will post -1.85 earnings per share for the current fiscal year.

Lemonade Company 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.