Mandatum Life Insurance Co Ltd Makes New $378,000 Investment in Lemonade, Inc. (NYSE:LMND)

Mandatum Life Insurance Co Ltd purchased a new stake in Lemonade, Inc. (NYSE:LMND) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,300 shares of the company’s stock, valued at approximately $378,000.

A number of other institutional investors have also modified their holdings of the company. Marshall Wace LLP purchased a new stake in Lemonade in the second quarter valued at about $14,181,000. General Equity Holdings LP acquired a new stake in Lemonade in the 2nd quarter worth approximately $5,198,000. FMR LLC grew its position in Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the last quarter. Millennium Management LLC increased its stake in Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after purchasing an additional 131,784 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Lemonade during the third quarter worth $1,571,000. 80.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 28,985 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 69,508 shares of the company’s stock, valued at $2,687,874.36. This trade represents a 29.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maria Angelidis-Smith purchased 18,512 shares of Lemonade stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the purchase, the director now directly owns 18,512 shares in the company, valued at approximately $507,599.04. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 900,499 shares of company stock valued at $39,114,376 over the last quarter. 12.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler lifted their price target on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Jefferies Financial Group cut their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets upped their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Lemonade has an average rating of “Hold” and a consensus price target of $32.67.

Lemonade Stock Performance

Shares of Lemonade stock opened at $32.81 on Monday. The business’s 50 day moving average price is $40.18 and its 200 day moving average price is $26.27. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -10.79 and a beta of 2.17. Lemonade, Inc. has a one year low of $14.03 and a one year high of $53.85.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share 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 firm had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the previous year, the company posted ($0.88) EPS. The company’s revenue was up 19.3% compared to the same quarter last year. On average, analysts predict that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

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.