Voloridge Investment Management LLC Buys New Shares in Lemonade, Inc. (NYSE:LMND)

Voloridge Investment Management LLC bought a new stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 580,964 shares of the company's stock, valued at approximately $21,310,000. Voloridge Investment Management LLC owned 0.81% of Lemonade at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new position in Lemonade during the 4th quarter valued at about $2,712,000. The Manufacturers Life Insurance Company raised its position in Lemonade by 7.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company's stock valued at $1,137,000 after purchasing an additional 2,209 shares in the last quarter. Watershed Private Wealth LLC acquired a new stake in Lemonade in the 4th quarter valued at about $286,000. Woodward Diversified Capital LLC acquired a new stake in Lemonade in the 4th quarter valued at about $381,000. Finally, Nisa Investment Advisors LLC raised its position in Lemonade by 4.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company's stock valued at $390,000 after purchasing an additional 500 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was 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 now directly owns 7,111,441 shares of the company's stock, valued at $233,539,722.44. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value of $64,167.21. Following the completion of the transaction, the insider now directly owns 87,609 shares of the company's stock, valued at approximately $2,960,308.11. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,744,890 shares of company stock worth $87,413,986. 14.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Lemonade Stock Down 2.2%

LMND traded down $0.73 during trading on Wednesday, hitting $32.39. 845,292 shares of the stock were exchanged, compared to its average volume of 1,929,251. The firm has a market capitalization of $2.37 billion, a P/E ratio of -10.66 and a beta of 2.13. Lemonade, Inc. has a 1-year low of $14.03 and a 1-year high of $53.85. The stock has a fifty day moving average price of $30.10 and a two-hundred day moving average price of $34.95.

Lemonade (NYSE:LMND - Get Free Report) last posted 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 net margin of 43.51% and a negative return on equity of 32.85%. During the same period in the previous year, the company earned ($0.67) earnings per share. Lemonade's revenue was up 27.0% compared to the same quarter last year. Analysts predict that Lemonade, Inc. will post -3.03 EPS for the current year.

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.