DNB Asset Management AS Purchases New Position in Lemonade, Inc. $LMND

DNB Asset Management AS acquired a new position in Lemonade, Inc. (NYSE:LMND) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 51,288 shares of the company’s stock, valued at approximately $2,745,000. DNB Asset Management AS owned 0.07% of Lemonade at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Bayforest Capital Ltd bought a new position in shares of Lemonade in the 3rd quarter worth approximately $25,000. NewEdge Advisors LLC purchased a new stake in Lemonade in the first quarter worth $35,000. Estabrook Capital Management bought a new position in Lemonade in the second quarter worth $44,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Lemonade by 30.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,034 shares of the company’s stock valued at $45,000 after buying an additional 243 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in Lemonade by 1,733.3% during the second quarter. Golden State Wealth Management LLC now owns 1,100 shares of the company’s stock valued at $48,000 after buying an additional 1,040 shares during the period. 80.30% of the stock is owned by institutional investors.

Lemonade Stock Performance

Shares of NYSE LMND opened at $51.86 on Wednesday. The firm’s 50 day moving average price is $73.57 and its 200-day moving average price is $66.36. The company has a market cap of $3.96 billion, a PE ratio of -22.95 and a beta of 2.12. Lemonade, Inc. has a 52-week low of $24.31 and a 52-week high of $99.90.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, February 18th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.12. Lemonade had a negative net margin of 22.43% and a negative return on equity of 31.19%. The firm’s revenue was up 53.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.42) earnings per share. On average, analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lemonade news, Director Debra Schwartz sold 4,200 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.59, for a total value of $351,078.00. Following the completion of the transaction, the director owned 21,567 shares of the company’s stock, valued at approximately $1,802,785.53. The trade was a 16.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel A. Schreiber sold 126,625 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $94.74, for a total transaction of $11,996,452.50. Following the transaction, the chief executive officer owned 1,523,534 shares in the company, valued at $144,339,611.16. This represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 241,200 shares of company stock worth $21,327,232 over the last three months. Company insiders own 12.50% of the company’s stock.

Wall Street Analyst Weigh In

LMND has been the subject of several research reports. Cantor Fitzgerald increased their price target on shares of Lemonade from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Citigroup restated an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Keefe, Bruyette & Woods raised their target price on shares of Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a research note on Tuesday, February 24th. Piper Sandler set a $65.00 price target on Lemonade in a research report on Thursday, February 19th. Finally, Truist Financial initiated coverage on Lemonade in a research note on Tuesday, January 6th. They issued a “buy” rating and a $98.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.75.

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.