Blue Jean Financial LLC Invests $2.82 Million in Lemonade, Inc. $LMND

Key Points

• Blue Jean Financial LLC bought 39,549 shares of Lemonade in the fourth quarter, a position worth about $2.82 million. The stake represents roughly 2.3% of Blue Jean’s portfolio and makes Lemonade its 7th-largest holding.
• Wall Street sentiment on Lemonade is mixed: analysts’ ratings range from buy to sell, with MarketBeat showing a consensus “Hold” and an average target price of $64.89. Recent target cuts from firms like Truist and Piper Sandler contrasted with buy/overweight ratings from others.
• Lemonade recently reported better-than-expected quarterly results, posting EPS of -$0.47 versus estimates of -$0.58 and revenue of $258 million, up 70.6% year over year. Shares were trading around $57.42, below the 200-day moving average of $66.96, while insiders also sold shares in recent transactions.

Blue Jean Financial LLC purchased a new position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,549 shares of the company's stock, valued at approximately $2,815,000. Lemonade makes up approximately 2.3% of Blue Jean Financial LLC's portfolio, making the stock its 7th largest position. Blue Jean Financial LLC owned approximately 0.05% of Lemonade at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Lemonade by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company's stock worth $448,822,000 after acquiring an additional 26,312 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Lemonade during the 3rd quarter worth approximately $9,060,000. Pursue Wealth Partners LLC acquired a new position in shares of Lemonade in the 4th quarter valued at approximately $2,814,000. Halter Ferguson Financial Inc. raised its position in shares of Lemonade by 4.3% in the 4th quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company's stock valued at $42,769,000 after purchasing an additional 24,957 shares in the last quarter. Finally, Atika Capital Management LLC acquired a new position in shares of Lemonade in the 3rd quarter valued at approximately $3,694,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LMND shares. Truist Financial cut their target price on Lemonade from $98.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lemonade in a research report on Tuesday, April 21st. UBS Group set a $75.00 target price on Lemonade in a research report on Thursday, May 21st. Piper Sandler cut their target price on Lemonade from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Lemonade in a research report on Tuesday, May 26th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $64.89.

Lemonade Trading Up 0.4%

Shares of NYSE LMND opened at $57.42 on Friday. Lemonade, Inc. has a twelve month low of $35.70 and a twelve month high of $99.90. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -30.71 and a beta of 1.83. The business has a 50 day simple moving average of $58.38 and a 200-day simple moving average of $66.96.

Lemonade (NYSE:LMND - Get Free Report) last issued 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 business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. During the same period in the previous year, the business earned ($0.86) EPS. The business's quarterly revenue was up 70.6% on a year-over-year basis. As a group, equities analysts predict that Lemonade, Inc. will post -1.68 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Maya Prosor sold 1,220 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares in the company, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the sale, the insider owned 81,386 shares of the company's stock, valued at $4,308,574.84. This trade represents a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 6,563 shares of company stock valued at $348,125 over the last quarter. Company insiders own 14.70% of the company's stock.

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.

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