Lemonade, Inc. (NYSE:LMND) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Lemonade, Inc. (NYSE:LMND) by 402.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,161 shares of the company’s stock after purchasing an additional 220,399 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.39% of Lemonade worth $10,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LMND. Quest Partners LLC increased its stake in Lemonade by 1,647.6% during the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Lemonade in the third quarter worth $264,000. Landscape Capital Management L.L.C. increased its stake in shares of Lemonade by 17.6% in the third quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after acquiring an additional 48,260 shares during the period. FMR LLC increased its stake in shares of Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after acquiring an additional 153,362 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Lemonade in the third quarter worth $1,571,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Stock Performance

LMND stock opened at $34.92 on Friday. The firm has a market cap of $2.54 billion, a PE ratio of -11.49 and a beta of 2.12. The firm’s fifty day moving average is $34.26 and its 200 day moving average is $30.61. Lemonade, Inc. has a one year low of $14.03 and a one year high of $53.85.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.19. The company had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. JMP Securities increased their price objective on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Piper Sandler cut their price objective on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, BMO Capital Markets increased their price objective on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Insider Activity at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $43.02, for a total transaction of $304,022.34. Following the transaction, the insider now directly owns 10,699,211 shares of the company’s stock, valued at $460,280,057.22. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 1,899 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the transaction, the insider now directly owns 87,609 shares in the company, 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. Over the last quarter, insiders have sold 757,766 shares of company stock worth $33,369,646. 12.50% of the stock is owned by company insiders.

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.