Concurrent Investment Advisors LLC Sells 814 Shares of Lemonade, Inc. (NYSE:LMND)

Concurrent Investment Advisors LLC cut its holdings in shares of Lemonade, Inc. (NYSE:LMND) by 7.4% during the third quarter, Holdings Channel reports. The fund owned 10,120 shares of the company’s stock after selling 814 shares during the period. Concurrent Investment Advisors LLC’s holdings in Lemonade were worth $167,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Bristlecone Advisors LLC bought a new stake in Lemonade during the 3rd quarter worth approximately $218,000. International Assets Investment Management LLC lifted its holdings in Lemonade by 1,549.0% during the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after buying an additional 18,480 shares in the last quarter. Blue Trust Inc. lifted its holdings in Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 1,879 shares in the last quarter. Axiom Advisory LLC lifted its holdings in Lemonade by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock worth $897,000 after buying an additional 850 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Lemonade during the 3rd quarter worth $308,000. 80.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a report on Tuesday, October 15th. Jefferies Financial Group reduced their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and increased their price target for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Lemonade currently has a consensus rating of “Hold” and a consensus target price of $21.83.

Lemonade Stock Down 5.8 %

LMND stock opened at $32.27 on Wednesday. The company has a market cap of $2.30 billion, a P/E ratio of -11.26 and a beta of 1.68. Lemonade, Inc. has a twelve month low of $13.72 and a twelve month high of $34.95. The business’s fifty day moving average is $19.26 and its 200-day moving average is $18.19.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.88) EPS. Research analysts anticipate that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the sale, the chief financial officer now owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.50% of the stock is currently owned by company insiders.

Lemonade 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.