Quest Partners LLC Has $150,000 Stake in Lemonade, Inc. (NYSE:LMND)

Quest Partners LLC grew its stake in shares of Lemonade, Inc. (NYSE:LMND) by 1,647.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,105 shares of the company’s stock after purchasing an additional 8,584 shares during the period. Quest Partners LLC’s holdings in Lemonade were worth $150,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LMND. Blue Trust Inc. grew its position in Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after purchasing an additional 1,879 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Lemonade in the second quarter valued at approximately $180,000. Bristlecone Advisors LLC bought a new position in shares of Lemonade in the third quarter valued at approximately $218,000. Seven Eight Capital LP purchased a new stake in shares of Lemonade during the second quarter valued at approximately $269,000. Finally, Van ECK Associates Corp lifted its holdings in Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after acquiring an additional 1,915 shares during the period. Institutional investors own 80.30% of the company’s stock.

Insiders Place Their Bets

In other Lemonade news, insider Maya Prosor sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $50.00, for a total value of $1,500,000.00. Following the sale, the insider now owns 29,286 shares of the company’s stock, valued at $1,464,300. This trade represents a 50.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,892 shares of company stock worth $5,283,045 in the last three months. 12.50% of the stock is currently owned by corporate insiders.

Lemonade Price Performance

NYSE:LMND opened at $49.16 on Friday. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The stock’s fifty day moving average price is $25.50 and its two-hundred day moving average price is $20.42. The company has a market cap of $3.51 billion, a P/E ratio of -16.17 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the prior year, the firm posted ($0.88) EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts expect that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LMND. Piper Sandler raised their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. JMP Securities raised their price target 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. Finally, Jefferies Financial Group dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.43.

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.