FORA Capital LLC Acquires Shares of 17,934 Lemonade, Inc. (NYSE:LMND)

FORA Capital LLC purchased a new stake in Lemonade, Inc. (NYSE:LMND - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,934 shares of the company's stock, valued at approximately $658,000.

A number of other large investors also recently made changes to their positions in the stock. Quarry LP grew its holdings in shares of Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company's stock valued at $34,000 after buying an additional 700 shares during the period. Avior Wealth Management LLC acquired a new position in Lemonade in the fourth quarter valued at about $40,000. Russell Investments Group Ltd. increased its holdings in shares of Lemonade by 318.8% in the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company's stock worth $42,000 after acquiring an additional 867 shares in the last quarter. BNP Paribas bought a new stake in shares of Lemonade in the fourth quarter worth about $57,000. Finally, PNC Financial Services Group Inc. raised its position 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 during the period. Institutional investors and hedge funds own 80.30% of the company's stock.

Insider Activity at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the transaction, the insider now owns 10,494,636 shares in the company, valued at approximately $389,141,102.88. This trade represents a 1.91% decrease in their ownership of the stock. The sale 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 Lemonade stock in a transaction that occurred 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 sale, the insider now directly owns 87,609 shares of the company's stock, valued at approximately $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. In the last quarter, insiders have sold 1,857,608 shares of company stock worth $58,570,645. Company insiders own 14.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

Lemonade Price Performance

LMND stock traded up $0.63 during midday trading on Tuesday, hitting $32.60. The company's stock had a trading volume of 1,943,967 shares, compared to its average volume of 1,927,037. The company's fifty day moving average price is $30.77 and its 200 day moving average price is $34.42. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85. The stock has a market capitalization of $2.39 billion, a P/E ratio of -10.72 and a beta of 2.13.

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

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.