Mandatum Life Insurance Co Ltd Makes New Investment in Lemonade, Inc. (NYSE:LMND)

Mandatum Life Insurance Co Ltd acquired a new stake in Lemonade, Inc. (NYSE:LMND) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,300 shares of the company’s stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Johnson & White Wealth Management LLC purchased a new position in Lemonade in the 4th quarter valued at about $234,000. Tidal Investments LLC lifted its stake in shares of Lemonade by 4.6% in the third quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after acquiring an additional 2,017 shares in the last quarter. Barclays PLC raised its holdings in Lemonade by 292.5% in the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after acquiring an additional 65,144 shares in the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of Lemonade in the 3rd quarter worth approximately $614,000. Finally, State Street Corp grew its position in shares of Lemonade by 1.2% during the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after buying an additional 14,028 shares during the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Stock Performance

NYSE LMND opened at $32.81 on Monday. The firm has a 50-day simple moving average of $40.18 and a 200 day simple moving average of $26.27. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85. The stock has a market cap of $2.34 billion, a PE ratio of -10.79 and a beta of 2.17.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.88) earnings per share. Research analysts forecast that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total transaction of $304,022.34. Following the completion of the sale, the insider now owns 10,699,211 shares in the company, valued at $460,280,057.22. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Sheldon Peters sold 28,985 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $38.67, for a total value of $1,120,849.95. Following the sale, the insider now directly owns 69,508 shares of the company’s stock, valued at $2,687,874.36. This represents a 29.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 900,499 shares of company stock valued at $39,114,376. 12.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on LMND. BMO Capital Markets raised their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Piper Sandler upped their price objective on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, JMP Securities increased their price target on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Lemonade has an average rating of “Hold” and a consensus price target of $32.67.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.