Udine Wealth Management Inc. purchased a new position in Lemonade, Inc. (NYSE:LMND - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,531 shares of the company's stock, valued at approximately $1,808,000. Lemonade comprises 1.2% of Udine Wealth Management Inc.'s investment portfolio, making the stock its 23rd largest position. Udine Wealth Management Inc. owned about 0.08% of Lemonade at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Fluent Financial LLC purchased a new stake in Lemonade in the first quarter worth about $545,000. Rhumbline Advisers lifted its stake in Lemonade by 2.6% in the first quarter. Rhumbline Advisers now owns 77,706 shares of the company's stock worth $2,442,000 after acquiring an additional 2,001 shares during the period. GAMMA Investing LLC lifted its stake in Lemonade by 35,901.8% in the first quarter. GAMMA Investing LLC now owns 19,801 shares of the company's stock worth $630,000 after acquiring an additional 19,746 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Lemonade in the fourth quarter worth about $4,457,000. Finally, Voloridge Investment Management LLC purchased a new stake in Lemonade in the fourth quarter worth about $21,310,000. 80.30% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, major shareholder Softbank Group Capital Ltd sold 422,177 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $30.17, for a total transaction of $12,737,080.09. Following the transaction, the insider now owns 10,015,984 shares in the company, valued at $302,182,237.28. This represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Sheldon Peters sold 1,494 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $35.25, for a total transaction of $52,663.50. Following the transaction, the insider now owns 106,115 shares in the company, valued at approximately $3,740,553.75. This trade represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,744,737 shares of company stock worth $87,411,365. 14.70% of the stock is owned by corporate insiders.
Lemonade Price Performance
Lemonade stock traded up $0.67 during trading hours on Tuesday, reaching $41.63. The stock had a trading volume of 2,975,022 shares, compared to its average volume of 2,013,188. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -13.69 and a beta of 2.14. The business's 50 day moving average price is $30.70 and its 200-day moving average price is $34.80. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85.
Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Lemonade's revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.67) earnings per share. On average, sell-side analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on LMND shares. Keefe, Bruyette & Woods lowered their price objective on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler lowered their price objective on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered shares of Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $35.00 to $24.00 in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Lemonade has a consensus rating of "Hold" and an average target price of $28.17.
Check Out Our Latest Analysis on Lemonade
About Lemonade
(
Free Report)
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.
Further Reading
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