Hidden Lake Asset Management LP Reduces Stake in Lemonade, Inc. $LMND

Hidden Lake Asset Management LP reduced its holdings in Lemonade, Inc. (NYSE:LMND) by 89.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,109 shares of the company’s stock after selling 292,961 shares during the quarter. Hidden Lake Asset Management LP’s holdings in Lemonade were worth $1,772,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LMND. Bayforest Capital Ltd bought a new position in shares of Lemonade during the third quarter valued at approximately $25,000. Estabrook Capital Management bought a new stake in Lemonade in the second quarter valued at $44,000. Tsfg LLC purchased a new position in Lemonade during the 3rd quarter valued at $54,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Lemonade by 30.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,034 shares of the company’s stock valued at $45,000 after purchasing an additional 243 shares during the period. Finally, NewEdge Advisors LLC bought a new position in Lemonade in the 1st quarter worth $35,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Daniel A. Schreiber sold 126,625 shares of Lemonade stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 1,523,534 shares in the company, valued at approximately $144,339,611.16. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Sheldon Peters sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the completion of the sale, the insider directly owned 60,771 shares in the company, valued at approximately $4,861,680. This represents a 14.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,300 shares of company stock valued at $14,796,026 in the last ninety days. Insiders own 12.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LMND shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research note on Thursday, January 22nd. Morgan Stanley set a $85.00 price target on shares of Lemonade and gave the stock an “equal weight” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald lifted their price objective on Lemonade from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Truist Financial began coverage on Lemonade in a report on Tuesday, January 6th. They set a “buy” rating and a $98.00 target price on the stock. Finally, Piper Sandler set a $65.00 target price on Lemonade in a research report on Thursday, February 19th. Four equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $68.75.

Lemonade Trading Up 4.3%

Shares of LMND stock opened at $55.15 on Monday. The company’s fifty day moving average price is $70.41 and its 200-day moving average price is $66.30. The stock has a market cap of $4.21 billion, a PE ratio of -24.40 and a beta of 2.12. Lemonade, Inc. has a 12 month low of $24.31 and a 12 month high of $99.90.

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

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.