Genesis Financial Group LLC Invests $890,000 in Lemonade, Inc. $LMND

Genesis Financial Group LLC purchased a new position in shares of Lemonade, Inc. (NYSE:LMND) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,500 shares of the company’s stock, valued at approximately $890,000.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Lemonade by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after purchasing an additional 15,779 shares during the period. Millennium Management LLC boosted its position in shares of Lemonade by 255.2% during the first quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after buying an additional 237,044 shares during the period. NewEdge Advisors LLC bought a new position in shares of Lemonade during the first quarter valued at approximately $35,000. Goldman Sachs Group Inc. grew its stake in shares of Lemonade by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after buying an additional 41,759 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Lemonade by 7.1% in the second quarter. Legal & General Group Plc now owns 58,928 shares of the company’s stock worth $2,582,000 after buying an additional 3,927 shares during the period. 80.30% of the stock is currently owned by institutional investors.

Lemonade Stock Performance

Shares of NYSE LMND opened at $61.40 on Friday. Lemonade, Inc. has a 52-week low of $24.31 and a 52-week high of $99.90. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -27.17 and a beta of 2.04. The stock has a 50 day moving average price of $65.26 and a 200 day moving average price of $67.24.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, February 18th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.19% and a negative net margin of 22.43%.Lemonade’s revenue for the quarter was up 53.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.42) EPS. Analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other news, insider John Sheldon Peters sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the transaction, the insider owned 60,771 shares in the company, valued at approximately $4,861,680. This trade represents a 14.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel A. Schreiber sold 126,625 shares of Lemonade stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $94.74, for a total value of $11,996,452.50. Following the completion of the sale, the chief executive officer owned 1,523,534 shares of the company’s stock, valued at $144,339,611.16. The trade was a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 160,300 shares of company stock worth $14,796,026. Insiders own 14.70% of the company’s stock.

Wall Street Analysts Forecast Growth

LMND has been the subject of a number of recent analyst reports. Citigroup restated an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Thursday, January 22nd. Morgan Stanley upgraded Lemonade from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $80.00 to $85.00 in a research report on Tuesday, March 17th. Truist Financial initiated coverage on shares of Lemonade in a research note on Tuesday, January 6th. They set a “buy” rating and a $98.00 target price for the company. Finally, Cantor Fitzgerald upped their price target on shares of Lemonade from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.75.

Lemonade 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.