Privium Fund Management B.V. Invests $7.76 Million in Lemonade, Inc. $LMND

Privium Fund Management B.V. acquired a new position in Lemonade, Inc. (NYSE:LMND) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 145,000 shares of the company’s stock, valued at approximately $7,762,000. Lemonade accounts for about 1.4% of Privium Fund Management B.V.’s portfolio, making the stock its 15th biggest position. Privium Fund Management B.V. owned about 0.20% of Lemonade at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Lemonade by 8.8% during the 3rd quarter. Arizona State Retirement System now owns 17,344 shares of the company’s stock worth $928,000 after purchasing an additional 1,405 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Lemonade by 77.5% during the third quarter. TD Waterhouse Canada Inc. now owns 3,550 shares of the company’s stock worth $186,000 after buying an additional 1,550 shares during the period. Federated Hermes Inc. increased its position in shares of Lemonade by 195.9% during the third quarter. Federated Hermes Inc. now owns 157,592 shares of the company’s stock worth $8,436,000 after buying an additional 104,342 shares during the period. PFG Investments LLC bought a new position in Lemonade during the third quarter worth $217,000. Finally, Strs Ohio acquired a new position in Lemonade in the third quarter valued at $86,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Stock Performance

LMND stock opened at $86.59 on Friday. The stock’s 50 day simple moving average is $79.90 and its 200 day simple moving average is $63.14. The company has a market cap of $6.47 billion, a P/E ratio of -36.23 and a beta of 1.98. Lemonade, Inc. has a fifty-two week low of $24.31 and a fifty-two week high of $99.90.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.21. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The firm had revenue of $194.50 million during the quarter, compared to analysts’ expectations of $185.06 million. During the same quarter last year, the firm posted ($0.95) earnings per share. The company’s revenue for the quarter was up 42.4% compared to the same quarter last year. Equities analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Cantor Fitzgerald increased their price target on Lemonade from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Truist Financial assumed coverage on Lemonade in a research report on Tuesday, January 6th. They set a “buy” rating and a $98.00 target price on the stock. JMP Securities set a $80.00 target price on Lemonade in a research note on Monday, November 24th. Keefe, Bruyette & Woods boosted their price target on Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. Finally, Citigroup restated an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.50.

Insider Buying and Selling at Lemonade

In other news, Director Debra Schwartz sold 4,200 shares of Lemonade stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $83.59, for a total transaction of $351,078.00. Following the completion of the transaction, the director directly owned 21,567 shares in the company, valued at $1,802,785.53. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adina Eckstein sold 7,919 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $81.15, for a total transaction of $642,626.85. Following the sale, the chief operating officer directly owned 188,391 shares of the company’s stock, valued at approximately $15,287,929.65. The trade was a 4.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 306,350 shares of company stock worth $25,870,918. Company insiders own 14.70% of the company’s stock.

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.