Edgestream Partners L.P. Acquires Shares of 22,622 Lemonade, Inc. (NYSE:LMND)

Edgestream Partners L.P. purchased a new stake in Lemonade, Inc. (NYSE:LMND - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,622 shares of the company's stock, valued at approximately $711,000.

Several other large investors have also recently added to or reduced their stakes in LMND. The Manufacturers Life Insurance Company boosted its holdings in shares of Lemonade by 7.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company's stock worth $1,137,000 after acquiring an additional 2,209 shares in the last quarter. Invesco Ltd. boosted its stake in Lemonade by 14.0% in the fourth quarter. Invesco Ltd. now owns 76,718 shares of the company's stock worth $2,814,000 after purchasing an additional 9,419 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Lemonade by 35,901.8% during the first quarter. GAMMA Investing LLC now owns 19,801 shares of the company's stock worth $630,000 after purchasing an additional 19,746 shares during the last quarter. Northern Trust Corp increased its stake in shares of Lemonade by 23.7% in the fourth quarter. Northern Trust Corp now owns 562,502 shares of the company's stock valued at $20,633,000 after buying an additional 107,592 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Lemonade by 3.6% in the first quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company's stock valued at $346,000 after buying an additional 380 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $32.84, for a total value of $12,718,340.88. Following the completion of the transaction, the insider owned 7,111,441 shares in the company, valued at $233,539,722.44. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Sheldon Peters sold 6,543 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $294,435.00. Following the sale, the insider directly owned 106,115 shares of the company's stock, valued at $4,775,175. This represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,509,545 shares of company stock worth $78,775,964 over the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on LMND. BMO Capital Markets raised their price objective on shares of Lemonade from $15.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded Lemonade from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Keefe, Bruyette & Woods restated an "underperform" rating and set a $26.00 target price (up previously from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $26.00 price target (up previously from $24.00) on shares of Lemonade in a report on Monday, July 14th. Four analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $30.50.

Lemonade Stock Performance

NYSE:LMND traded down $1.98 during mid-day trading on Monday, hitting $40.15. The company had a trading volume of 1,640,287 shares, compared to its average volume of 2,196,789. Lemonade, Inc. has a fifty-two week low of $14.90 and a fifty-two week high of $53.85. The firm has a market cap of $2.94 billion, a P/E ratio of -13.21 and a beta of 2.20. The business's fifty day moving average is $38.19 and its two-hundred day moving average is $34.46.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. During the same quarter in the prior year, the firm earned ($0.67) EPS. Lemonade's revenue for the quarter was up 27.0% compared to the same quarter last year. Equities analysts forecast that Lemonade, Inc. will post -3.03 earnings per share 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.