Lemonade, Inc. $LMND is Privium Fund Management B.V.'s 9th Largest Position

Key Points

• Privium Fund Management boosted its stake in Lemonade by 71.2% to 248,259 shares, making LMND its 9th largest holding and representing 3.3% of the fund (Privium owns 0.33% of Lemonade, ~ $17.67M).
• Lemonade beat quarterly expectations with a ($0.47) EPS vs. ($0.58) est. and $258M in revenue (up 70.6% year-over-year), but the company remains unprofitable with a negative net margin of 16.44% and negative ROE.
• Institutional ownership is high at 80.3% with several large funds adding to positions, while analysts are mixed—five Buys, one Hold and three Sells—yielding a consensus rating of "Hold" and a $64.88 consensus price target.

Privium Fund Management B.V. increased its stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 71.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 248,259 shares of the company's stock after purchasing an additional 103,259 shares during the period. Lemonade makes up 3.3% of Privium Fund Management B.V.'s investment portfolio, making the stock its 9th largest holding. Privium Fund Management B.V. owned 0.33% of Lemonade worth $17,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in LMND. JPMorgan Chase & Co. grew its position in Lemonade by 30.8% during the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company's stock valued at $187,685,000 after buying an additional 825,522 shares during the period. BIT Capital GmbH grew its position in Lemonade by 69.3% during the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company's stock valued at $67,145,000 after buying an additional 513,424 shares during the period. Two Sigma Investments LP grew its position in Lemonade by 45.0% during the third quarter. Two Sigma Investments LP now owns 813,062 shares of the company's stock valued at $43,523,000 after buying an additional 252,298 shares during the period. Millennium Management LLC grew its position in Lemonade by 255.2% during the first quarter. Millennium Management LLC now owns 329,934 shares of the company's stock valued at $10,370,000 after buying an additional 237,044 shares during the period. Finally, Bank of America Corp DE grew its position in Lemonade by 28.1% during the second quarter. Bank of America Corp DE now owns 993,669 shares of the company's stock valued at $43,533,000 after buying an additional 217,913 shares during the period. 80.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on LMND. Morgan Stanley upgraded shares of Lemonade from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $80.00 to $85.00 in a research report on Tuesday, March 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Lemonade in a research report on Tuesday, April 21st. Wolfe Research set a $44.00 target price on shares of Lemonade in a research report on Tuesday, February 24th. Cantor Fitzgerald boosted their target price on shares of Lemonade from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, January 14th. Finally, Truist Financial cut their target price on shares of Lemonade from $98.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $64.88.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of the company'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 value of $187,477.50. Following the completion of the transaction, the insider directly owned 76,729 shares in the company, valued at $4,028,272.50. This represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 5,567 shares of company stock valued at $287,517 in the last three months. Corporate insiders own 12.50% of the company's stock.

Lemonade Price Performance

LMND opened at $57.18 on Wednesday. The firm has a market cap of $4.39 billion, a P/E ratio of -30.58 and a beta of 1.85. Lemonade, Inc. has a 1-year low of $28.71 and a 1-year high of $99.90. The company has a 50 day simple moving average of $60.07 and a two-hundred day simple moving average of $68.59.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.58) by $0.11. The business had revenue of $258.00 million during the quarter, compared to analyst estimates of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The company's revenue was up 70.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.86) earnings per share. Equities analysts anticipate that Lemonade, Inc. will post -1.75 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.

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