Sei Investments Co. Makes New Investment in Lemonade, Inc. (NYSE:LMND)

Sei Investments Co. bought a new position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 15,071 shares of the company's stock, valued at approximately $553,000.

Several other institutional investors have also modified their holdings of LMND. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Lemonade by 402.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company's stock valued at $10,093,000 after acquiring an additional 220,399 shares in the last quarter. FMR LLC grew its position in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company's stock valued at $5,249,000 after purchasing an additional 153,362 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Lemonade in the 4th quarter valued at $2,712,000. Barclays PLC boosted its stake in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company's stock worth $1,443,000 after buying an additional 65,144 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Lemonade in the 4th quarter valued at about $1,613,000. Institutional investors own 80.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LMND shares. Morgan Stanley lowered Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th. Piper Sandler cut their price target on Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Lemonade has an average rating of "Hold" and an average target price of $28.00.

Insiders Place Their Bets

In related news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were 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 in the company, valued at $389,041,156.72. This represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Sheldon Peters sold 1,899 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the transaction, the insider now directly owns 87,609 shares in the company, valued at $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 248,634 shares of company stock worth $9,219,003. 12.50% of the stock is owned by corporate insiders.

Lemonade Price Performance

NYSE LMND traded up $0.17 on Tuesday, reaching $27.06. The company had a trading volume of 123,396 shares, compared to its average volume of 1,922,620. The business has a 50 day moving average of $33.35 and a two-hundred day moving average of $32.82. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -8.87 and a beta of 2.13.

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

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.