Raymond James Financial Inc. Makes New $1.61 Million Investment in Lemonade, Inc. (NYSE:LMND)

Raymond James Financial Inc. acquired a new stake in Lemonade, Inc. (NYSE:LMND) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 43,974 shares of the company’s stock, valued at approximately $1,613,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC acquired a new stake in Lemonade in the fourth quarter valued at $40,000. Union Bancaire Privee UBP SA purchased a new position in shares of Lemonade in the 4th quarter valued at about $67,000. US Bancorp DE increased its holdings in shares of Lemonade by 574.5% in the 4th quarter. US Bancorp DE now owns 1,875 shares of the company’s stock valued at $69,000 after acquiring an additional 1,597 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after acquiring an additional 3,403 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Lemonade during the fourth quarter worth approximately $80,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value 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. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $37.08, for a total value of $7,585,641.00. Following the sale, the insider now owns 10,494,636 shares of the company’s stock, valued at $389,141,102.88. This trade represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 248,634 shares of company stock worth $9,219,003 in the last 90 days. 12.50% of the stock is owned by insiders.

Lemonade Stock Performance

LMND opened at $31.61 on Wednesday. Lemonade, Inc. has a one year low of $14.03 and a one year high of $53.85. The stock has a market capitalization of $2.30 billion, a P/E ratio of -10.40 and a beta of 2.12. The business’s 50-day simple moving average is $34.50 and its 200-day simple moving average is $32.14.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) EPS 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 analyst estimates of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. On average, equities research analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price target 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. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.00.

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.