Lemonade, Inc. $LMND Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes boosted its stake in Lemonade by 195.9% during Q3, buying an additional 104,342 shares to hold 157,592 shares worth about $8.44 million (≈0.21% of the company).
• Significant insider selling has occurred recently — insiders sold 306,350 shares totaling $25.87 million in the past 90 days (insiders now own 12.5% of the stock), including sales by Director Debra Schwartz and COO Adina Eckstein.
• Lemonade beat the quarter's estimates with EPS of -$0.51 (vs. -$0.72) and revenue of $194.5M (+42.4% YoY), but remains unprofitable and carries a MarketBeat consensus rating of "Hold" with a $71.50 price target.

Federated Hermes Inc. grew its holdings in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 195.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 157,592 shares of the company's stock after purchasing an additional 104,342 shares during the period. Federated Hermes Inc. owned approximately 0.21% of Lemonade worth $8,436,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LMND. Bayforest Capital Ltd acquired a new position in Lemonade during the 3rd quarter valued at about $25,000. NewEdge Advisors LLC bought a new position in shares of Lemonade in the first quarter valued at approximately $35,000. Estabrook Capital Management acquired a new position in shares of Lemonade during the second quarter valued at approximately $44,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Lemonade by 30.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,034 shares of the company's stock worth $45,000 after purchasing an additional 243 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings 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 worth $48,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company's stock.

Insiders Place Their Bets

In other Lemonade news, Director Debra Schwartz sold 4,200 shares of Lemonade stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.59, for a total transaction of $351,078.00. Following the transaction, the director owned 21,567 shares of the company's stock, valued at $1,802,785.53. The trade was a 16.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Adina Eckstein sold 7,919 shares of the company's stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $81.15, for a total value of $642,626.85. Following the completion of the transaction, the chief operating officer owned 188,391 shares in the company, valued at $15,287,929.65. This represents a 4.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 306,350 shares of company stock worth $25,870,918. 12.50% of the stock is currently owned by corporate insiders.

Lemonade Trading Down 5.1%

NYSE LMND opened at $86.59 on Monday. Lemonade, Inc. has a 1 year low of $24.31 and a 1 year high of $99.90. The company has a market cap of $6.47 billion, a PE ratio of -36.23 and a beta of 2.02. The stock's 50-day moving average price is $79.90 and its two-hundred day moving average price is $63.48.

Lemonade (NYSE:LMND - Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.21. The business had revenue of $194.50 million for the quarter, compared to the consensus estimate of $185.06 million. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. The firm's quarterly revenue was up 42.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.95) earnings per share. Research analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LMND shares. Piper Sandler lowered their price target on Lemonade from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, October 10th. JMP Securities set a $80.00 price target on shares of Lemonade in a research report on Monday, November 24th. Truist Financial assumed coverage on shares of Lemonade in a report on Tuesday, January 6th. They issued a "buy" rating and a $98.00 price target for the company. Citigroup restated an "outperform" rating on shares of Lemonade in a research report on Friday, January 16th. Finally, Morgan Stanley set a $85.00 target price on shares of Lemonade and gave the stock an "equal weight" rating in a report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Lemonade has a consensus rating of "Hold" and a consensus price target of $71.50.

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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