Westerly Capital Management LLC Takes $917,000 Position in Lemonade, Inc. (NYSE:LMND)

Westerly Capital Management LLC bought a new position in Lemonade, Inc. (NYSE:LMND) in the 4th quarter, Holdings Channel reports. The firm bought 25,000 shares of the company’s stock, valued at approximately $917,000.

A number of other large investors have also recently made changes to their positions in the company. Northern Trust Corp raised its position in Lemonade by 23.7% in the 4th quarter. Northern Trust Corp now owns 562,502 shares of the company’s stock worth $20,633,000 after purchasing an additional 107,592 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Lemonade by 7.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company’s stock worth $1,137,000 after acquiring an additional 2,209 shares during the last quarter. Quarry LP boosted its holdings in Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after acquiring an additional 700 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Lemonade in the 4th quarter valued at $525,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Lemonade by 13.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,573 shares of the company’s stock worth $1,122,000 after purchasing an additional 3,579 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Price Performance

LMND opened at $29.53 on Wednesday. The firm has a market capitalization of $2.16 billion, a PE ratio of -9.71 and a beta of 2.13. The business’s 50-day moving average is $31.57 and its two-hundred day moving average is $33.58. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $144.78 million. As a group, sell-side analysts expect that Lemonade, Inc. will post -3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00. Following the completion of the transaction, the insider now owns 10,494,636 shares of the company’s stock, valued at approximately $389,141,102.88. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of Lemonade 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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 248,634 shares of company stock worth $9,219,003. Insiders own 12.50% of the company’s stock.

Lemonade Company 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.