Woodward Diversified Capital LLC Invests $381,000 in Lemonade, Inc. (NYSE:LMND)

Woodward Diversified Capital LLC acquired a new stake in Lemonade, Inc. (NYSE:LMND) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,386 shares of the company’s stock, valued at approximately $381,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LMND. State Street Corp increased its stake in Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after purchasing an additional 14,028 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in shares of Lemonade by 17.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after buying an additional 48,260 shares during the last quarter. FMR LLC raised its stake 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 acquiring an additional 153,362 shares in the last quarter. GSA Capital Partners LLP lifted its position in Lemonade by 31.0% in the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after acquiring an additional 42,822 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Lemonade by 388.7% in 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 during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LMND shares. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. JMP Securities raised their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and upped their price objective for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. BMO Capital Markets increased their price objective on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Finally, Piper Sandler boosted their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.67.

Insider Activity at Lemonade

In other Lemonade news, insider Maya Prosor sold 30,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total value of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 29,286 shares of the company’s stock, valued at approximately $1,464,300. This trade represents a 50.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the sale, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 866,945 shares of company stock worth $38,096,684 over the last three months. 12.50% of the stock is currently owned by corporate insiders.

Lemonade Trading Up 2.4 %

NYSE LMND opened at $36.76 on Friday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -12.09 and a beta of 2.15. The business’s 50 day moving average is $37.82 and its two-hundred day moving average is $27.58. Lemonade, Inc. has a 12-month low of $14.03 and a 12-month high of $53.85.

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.