Commonwealth Equity Services LLC Invests $201,000 in Lemonade, Inc. (NYSE:LMND)

Commonwealth Equity Services LLC bought a new position in shares of Lemonade, Inc. (NYSE:LMND) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 5,488 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LMND. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Lemonade by 402.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock valued at $10,093,000 after purchasing an additional 220,399 shares during the period. FMR LLC raised its position in shares of Lemonade by 93.0% in the third 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 period. Strategic Financial Concepts LLC purchased a new stake in shares of Lemonade during the 4th quarter worth about $2,712,000. Barclays PLC boosted its stake in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after acquiring an additional 65,144 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Lemonade in the 4th quarter valued at about $1,613,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Lemonade Price Performance

Shares of Lemonade stock opened at $26.14 on Friday. The business has a 50 day simple moving average of $33.67 and a two-hundred day simple moving average of $32.58. The stock has a market capitalization of $1.90 billion, a P/E ratio of -8.60 and a beta of 2.13. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. As a group, research analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LMND has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley lowered Lemonade from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $35.00 to $24.00 in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.00.

Insider Buying and Selling

In related news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the completion of the sale, the insider now directly owns 10,452,476 shares in the company, valued at approximately $389,041,156.72. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Sheldon Peters sold 1,899 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the transaction, the insider now owns 87,609 shares in the company, valued at $2,960,308.11. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 248,634 shares of company stock worth $9,219,003. 12.50% of the stock is owned by insiders.

About Lemonade

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.