Udine Wealth Management Inc. Makes New $1.81 Million Investment in Lemonade, Inc. (NYSE:LMND)

Udine Wealth Management Inc. acquired a new position in shares of Lemonade, Inc. (NYSE:LMND) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 57,531 shares of the company’s stock, valued at approximately $1,808,000. Lemonade accounts for approximately 1.2% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Udine Wealth Management Inc. owned 0.08% of Lemonade as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. KBC Group NV purchased a new stake in Lemonade during the fourth quarter worth $80,000. Strategic Financial Concepts LLC acquired a new position in shares of Lemonade in the fourth quarter worth about $2,712,000. Woodward Diversified Capital LLC acquired a new position in shares of Lemonade in the fourth quarter worth about $381,000. Bristlecone Advisors LLC boosted its stake in shares of Lemonade by 10.2% during the 4th quarter. Bristlecone Advisors LLC now owns 14,577 shares of the company’s stock worth $535,000 after acquiring an additional 1,348 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Lemonade by 2.1% during the 4th quarter. Rhumbline Advisers now owns 75,705 shares of the company’s stock worth $2,777,000 after acquiring an additional 1,561 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Sheldon Peters sold 1,494 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $35.25, for a total transaction of $52,663.50. Following the transaction, the insider now directly owns 106,115 shares in the company, valued at approximately $3,740,553.75. The trade was a 1.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,744,737 shares of company stock valued at $87,411,365. Corporate insiders own 14.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LMND shares. Piper Sandler reduced their price target on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Keefe, Bruyette & Woods reduced their target price on Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley lowered Lemonade from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.17.

Lemonade Trading Up 11.8%

NYSE:LMND opened at $39.98 on Friday. The stock has a 50 day moving average of $30.28 and a two-hundred day moving average of $35.00. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85. The firm has a market cap of $2.93 billion, a P/E ratio of -13.15 and a beta of 2.14.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. During the same period in the previous year, the firm earned ($0.67) EPS. The firm’s revenue was up 27.0% on a year-over-year basis. On average, research analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current 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.