Hidden Lake Asset Management LP Lowers Holdings in Lemonade, Inc. $LMND

Hidden Lake Asset Management LP decreased its position in Lemonade, Inc. (NYSE:LMND) by 89.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,109 shares of the company’s stock after selling 292,961 shares during the period. Hidden Lake Asset Management LP’s holdings in Lemonade were worth $1,772,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LMND. Bayforest Capital Ltd bought a new stake in Lemonade during the 3rd quarter valued at about $25,000. NewEdge Advisors LLC purchased a new position in Lemonade in the first quarter worth about $35,000. Estabrook Capital Management bought a new position in shares of Lemonade in the second quarter worth approximately $44,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Lemonade by 30.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,034 shares of the company’s stock worth $45,000 after buying an additional 243 shares in the last quarter. Finally, Tsfg LLC purchased a new stake in shares of Lemonade during the third quarter valued at approximately $54,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LMND shares. Citizens Jmp set a $80.00 price objective on shares of Lemonade in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their target price on Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, February 24th. Citigroup reaffirmed an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Finally, Wolfe Research set a $44.00 price objective on Lemonade in a research report on Tuesday, February 24th. Four investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.75.

Insider Transactions at Lemonade

In related news, CEO Daniel A. Schreiber sold 9,108 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $99.04, for a total value of $902,056.32. Following the transaction, the chief executive officer owned 1,514,426 shares of the company’s stock, valued at approximately $149,988,751.04. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Sheldon Peters sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total transaction of $187,477.50. Following the sale, the insider owned 76,729 shares of the company’s stock, valued at $4,028,272.50. This trade represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,300 shares of company stock valued at $14,796,026. Corporate insiders own 12.50% of the company’s stock.

Lemonade Price Performance

LMND stock opened at $55.15 on Monday. The company has a market cap of $4.21 billion, a P/E ratio of -24.40 and a beta of 2.12. Lemonade, Inc. has a 1 year low of $24.31 and a 1 year high of $99.90. The stock’s fifty day moving average price is $70.41 and its 200-day moving average price is $66.30.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, February 18th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.19% and a negative net margin of 22.43%.During the same quarter in the previous year, the firm earned ($0.42) earnings per share. The business’s revenue for the quarter was up 53.3% compared to the same quarter last year. As a group, analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current 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.