Fluent Financial LLC Takes $545,000 Position in Lemonade, Inc. (NYSE:LMND)

Fluent Financial LLC acquired a new position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,342 shares of the company's stock, valued at approximately $545,000.

Several other large investors have also made changes to their positions in LMND. Jones Financial Companies Lllp grew its stake in Lemonade by 6.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company's stock worth $215,000 after buying an additional 375 shares during the period. Summit Investment Advisors Inc. boosted its position in Lemonade by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company's stock worth $200,000 after purchasing an additional 423 shares during the period. Bank of New York Mellon Corp increased its holdings in Lemonade by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company's stock valued at $5,545,000 after purchasing an additional 442 shares in the last quarter. Quarry LP raised its position in Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company's stock valued at $34,000 after purchasing an additional 700 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Lemonade by 116.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company's stock worth $59,000 after purchasing an additional 860 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Price Performance

LMND traded down $0.03 on Thursday, reaching $35.82. The company's stock had a trading volume of 3,417,546 shares, compared to its average volume of 1,981,408. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The business's 50 day moving average is $30.03 and its 200 day moving average is $34.99. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -11.78 and a beta of 2.14.

Lemonade (NYSE:LMND - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business's quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.67) EPS. As a group, research analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the transaction, the insider now owns 10,452,476 shares of the company's stock, valued at $389,041,156.72. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 2,742,991 shares of company stock valued at $87,349,818 in the last ninety days. Corporate insiders own 14.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Piper Sandler lowered their target price on Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Morgan Stanley downgraded shares of Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 22nd. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.17.

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.