Pilgrim Partners Asia Pte Ltd Makes New Investment in Lemonade, Inc. (NYSE:LMND)

Pilgrim Partners Asia Pte Ltd acquired a new stake in Lemonade, Inc. (NYSE:LMND) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,600 shares of the company’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMND. JPMorgan Chase & Co. lifted its position in Lemonade by 2,627.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock worth $49,494,000 after buying an additional 1,299,891 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Lemonade by 402.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock worth $10,093,000 after acquiring an additional 220,399 shares during the last quarter. FMR LLC lifted its holdings in shares of Lemonade by 93.0% in the 3rd 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 last quarter. Vanguard Group Inc. boosted its stake in shares of Lemonade by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock worth $195,999,000 after purchasing an additional 134,776 shares during the period. Finally, Verition Fund Management LLC bought a new position in Lemonade during the 3rd quarter valued at about $1,571,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their target price on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Lemonade has a consensus rating of “Hold” and a consensus price target of $31.00.

Lemonade Price Performance

LMND stock opened at $28.19 on Friday. The company has a market capitalization of $2.05 billion, a PE ratio of -9.27 and a beta of 2.13. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85. The firm’s 50-day moving average is $34.36 and its 200 day moving average is $32.19.

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

Insider Transactions at Lemonade

In related news, insider John Sheldon Peters sold 1,899 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 owns 87,609 shares of the company’s stock, valued at $2,960,308.11. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company’s stock in a transaction on 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 sale, the insider now 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. In the last 90 days, insiders have sold 248,634 shares of company stock valued at $9,219,003. 12.50% of the stock is currently owned by corporate 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.