Westerly Capital Management LLC Acquires New Shares in Lemonade, Inc. (NYSE:LMND)

Westerly Capital Management LLC bought a new position in Lemonade, Inc. (NYSE:LMND - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 25,000 shares of the company's stock, valued at approximately $917,000.

Several other hedge funds have also added to or reduced their stakes in LMND. Quarry LP grew its holdings in shares of Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company's stock worth $34,000 after purchasing an additional 700 shares during the last quarter. Avior Wealth Management LLC bought a new stake in Lemonade in the 4th quarter worth $40,000. Russell Investments Group Ltd. increased its position 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 valued at $42,000 after acquiring an additional 867 shares during the period. PNC Financial Services Group Inc. raised 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 valued at $59,000 after acquiring an additional 860 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Lemonade during the fourth quarter valued at about $67,000. 80.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Lemonade Trading Up 5.2 %

Shares of LMND stock traded up $1.49 during midday trading on Friday, reaching $30.00. 1,789,535 shares of the stock were exchanged, compared to its average volume of 1,905,166. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The firm has a market cap of $2.20 billion, a PE ratio of -9.87 and a beta of 2.13. The company's 50 day moving average is $31.32 and its two-hundred day moving average is $33.71.

Lemonade (NYSE:LMND - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.19. The company had revenue of $148.80 million for the quarter, compared to analysts' expectations of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. As a group, equities analysts expect that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Sheldon Peters sold 1,899 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the transaction, the insider now directly owns 87,609 shares in the company, valued at $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total value of $1,569,195.20. Following the completion of the transaction, the insider now directly owns 10,452,476 shares of the company's stock, valued at approximately $389,041,156.72. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,134 shares of company stock worth $9,234,003. 12.50% of the stock is currently owned by company insiders.

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.