73,947 Shares in Lemonade, Inc. (NYSE:LMND) Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in Lemonade, Inc. (NYSE:LMND) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 73,947 shares of the company’s stock, valued at approximately $2,712,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Watershed Private Wealth LLC purchased a new stake in Lemonade in the 4th quarter worth about $286,000. KBC Group NV purchased a new position in shares of Lemonade in the fourth quarter worth about $80,000. Union Bancaire Privee UBP SA bought a new stake in shares of Lemonade in the fourth quarter valued at approximately $67,000. Avior Wealth Management LLC purchased a new stake in shares of Lemonade during the 4th quarter valued at approximately $40,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Lemonade by 4.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock valued at $390,000 after buying an additional 500 shares in the last quarter. 80.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LMND shares. JMP Securities boosted their target price on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. BMO Capital Markets lifted their price target on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Finally, Piper Sandler upped their price target on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.67.

Insider Activity

In other news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the transaction, the insider now directly owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. This represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at $7,586,120. The trade was a 11.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 846,945 shares of company stock worth $37,496,684. 12.50% of the stock is currently owned by insiders.

Lemonade Stock Up 2.4 %

Lemonade stock opened at $36.76 on Monday. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -12.09 and a beta of 2.15. The business has a 50-day simple moving average of $37.52 and a 200 day simple moving average of $27.71. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85.

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.