Avior Wealth Management LLC bought a new stake in shares of Lemonade, Inc. (NYSE:LMND – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,100 shares of the company’s stock, valued at approximately $40,000.
Several other large investors have also recently made changes to their positions in the business. FMR LLC raised its holdings in Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after acquiring an additional 153,362 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Lemonade by 99.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock worth $903,000 after acquiring an additional 27,265 shares during the last quarter. Verition Fund Management LLC purchased a new position in Lemonade in the 3rd quarter worth approximately $1,571,000. GSA Capital Partners LLP raised its holdings in Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after acquiring an additional 42,822 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Lemonade by 1,549.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after acquiring an additional 18,480 shares during the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on LMND shares. Jefferies Financial Group decreased their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. JMP Securities lifted their target price on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $42.00 in a research report on Wednesday, November 20th. Piper Sandler lifted their target price 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, BMO Capital Markets lifted their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Three 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.67.
Insider Activity at Lemonade
In related news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of Lemonade stock in a transaction on Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the transaction, the insider now owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now owns 189,653 shares in the company, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 900,499 shares of company stock worth $39,114,376. 12.50% of the stock is owned by corporate insiders.
Lemonade Price Performance
Shares of LMND stock opened at $33.41 on Thursday. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The firm has a fifty day moving average price of $39.96 and a 200-day moving average price of $27.07. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -10.99 and a beta of 2.17.
Lemonade (NYSE:LMND – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the previous year, the firm posted ($0.88) EPS. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts expect that Lemonade, Inc. will post -3.06 EPS for the current 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.
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