KLP Kapitalforvaltning AS Buys New Position in Lemonade, Inc. (NYSE:LMND)

KLP Kapitalforvaltning AS bought a new stake in shares of Lemonade, Inc. (NYSE:LMND) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,000 shares of the company’s stock, valued at approximately $403,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LMND. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Lemonade by 402.5% during 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 raised its position in Lemonade by 93.0% during 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. Verition Fund Management LLC bought a new stake in Lemonade during the third quarter worth about $1,571,000. Strategic Financial Concepts LLC purchased a new position in shares of Lemonade in the 4th quarter worth about $2,712,000. Finally, Barclays PLC increased its position in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after purchasing an additional 65,144 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Wall Street Analyst Weigh In

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 given a buy rating to the company’s stock. Based on data from MarketBeat, Lemonade presently has an average rating of “Hold” and an average target price of $31.00.

Insiders Place Their Bets

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the completion of the transaction, the insider now owns 10,452,476 shares of the company’s stock, valued at $389,041,156.72. This represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the insider now owns 87,609 shares in the company, valued at approximately $2,960,308.11. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 248,634 shares of company stock valued at $9,219,003 in the last quarter. Insiders own 12.50% of the company’s stock.

Lemonade Trading Down 6.0 %

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

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

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.