Lemonade, Inc. $LMND Position Increased by Halter Ferguson Financial Inc.

Key Points

• Halter Ferguson Financial increased its Lemonade stake by 4.3% in Q4, adding 24,957 shares to reach 600,863 shares valued at about $42.8 million. Lemonade is now the fund’s third-largest holding and makes up 9.4% of its portfolio.
• Lemonade reported better-than-expected quarterly results, posting EPS of -$0.47 versus the -$0.58 estimate and revenue of $258 million versus $251.5 million expected. Revenue jumped 70.6% year over year, though the company still posted negative margins and ROE.
• Analysts remain mixed on LMND: recent price targets have been lowered by several firms, and MarketBeat shows an average rating of “Hold” with an average target price of $64.25. Meanwhile, an insider recently sold shares, and insiders sold 5,567 shares over the last three months.

Halter Ferguson Financial Inc. lifted its holdings in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 600,863 shares of the company's stock after acquiring an additional 24,957 shares during the quarter. Lemonade accounts for about 9.4% of Halter Ferguson Financial Inc.'s investment portfolio, making the stock its 3rd biggest position. Halter Ferguson Financial Inc. owned approximately 0.80% of Lemonade worth $42,769,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LMND. JPMorgan Chase & Co. increased its position in shares of Lemonade by 30.8% during the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company's stock worth $187,685,000 after acquiring an additional 825,522 shares during the last quarter. BIT Capital GmbH increased its position in shares of Lemonade by 69.3% during the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company's stock worth $67,145,000 after acquiring an additional 513,424 shares during the last quarter. Two Sigma Investments LP grew its stake in Lemonade by 45.0% in the third quarter. Two Sigma Investments LP now owns 813,062 shares of the company's stock worth $43,523,000 after purchasing an additional 252,298 shares in the last quarter. Millennium Management LLC grew its stake in Lemonade by 255.2% in the first quarter. Millennium Management LLC now owns 329,934 shares of the company's stock worth $10,370,000 after purchasing an additional 237,044 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Lemonade by 28.1% in the second quarter. Bank of America Corp DE now owns 993,669 shares of the company's stock worth $43,533,000 after purchasing an additional 217,913 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Up 1.5%

Shares of LMND stock opened at $53.66 on Friday. The business has a 50 day moving average of $60.33 and a two-hundred day moving average of $68.81. Lemonade, Inc. has a 52 week low of $28.71 and a 52 week high of $99.90. The company has a market cap of $4.12 billion, a P/E ratio of -28.69 and a beta of 1.85.

Lemonade (NYSE:LMND - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. The firm had revenue of $258.00 million during the quarter, compared to analysts' expectations of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. Lemonade's quarterly revenue was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.86) EPS. Analysts expect that Lemonade, Inc. will post -1.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LMND has been the subject of a number of research reports. Truist Financial decreased their price target on Lemonade from $98.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Citizens Jmp decreased their price target on Lemonade from $85.00 to $80.00 and set a "market outperform" rating for the company in a research note on Thursday, April 30th. Wolfe Research set a $44.00 price target on Lemonade in a research note on Tuesday, February 24th. Morgan Stanley set a $80.00 price target on Lemonade in a research note on Friday, May 8th. Finally, Piper Sandler decreased their price target on Lemonade from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Lemonade has an average rating of "Hold" and an average target price of $64.25.

Insider Activity

In other news, insider John Sheldon Peters sold 3,571 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total transaction of $187,477.50. Following the completion of the transaction, the insider directly owned 76,729 shares in the company, valued at approximately $4,028,272.50. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 5,567 shares of company stock worth $287,517 in the last three months. 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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