Watershed Private Wealth LLC Acquires New Stake in Lemonade, Inc. (NYSE:LMND)

Watershed Private Wealth LLC acquired a new stake in shares of Lemonade, Inc. (NYSE:LMND) in the fourth quarter, Holdings Channel reports. The firm acquired 7,790 shares of the company’s stock, valued at approximately $286,000.

Other hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC bought a new stake in shares of Lemonade during the fourth quarter valued at approximately $40,000. Blue Trust Inc. increased its holdings in shares of Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after purchasing an additional 1,879 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Lemonade in the fourth quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after purchasing an additional 3,403 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Lemonade during the fourth quarter valued at $80,000. 80.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 28,985 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the business’s stock in a transaction dated 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 approximately $460,280,057.22. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 900,499 shares of company stock worth $39,114,376. Corporate insiders own 12.50% of the company’s stock.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $33.26 on Wednesday. The firm has a fifty day moving average price of $40.10 and a 200 day moving average price of $26.97. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the prior year, the firm earned ($0.88) EPS. The business’s revenue was up 19.3% on a year-over-year basis. Research analysts expect that Lemonade, Inc. will post -3.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Lemonade

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.