Wipfli Financial Advisors LLC purchased a new stake in Lemonade, Inc. (NYSE:LMND – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,340 shares of the company’s stock, valued at approximately $50,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Lemonade by 3.4% during the first quarter. BlackRock Inc. now owns 1,517,589 shares of the company’s stock worth $40,019,000 after purchasing an additional 50,278 shares during the period. State Street Corp raised its holdings in shares of Lemonade by 29.5% during the second quarter. State Street Corp now owns 808,683 shares of the company’s stock worth $14,767,000 after purchasing an additional 184,130 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Lemonade during the first quarter worth $11,925,000. Goldman Sachs Group Inc. raised its holdings in shares of Lemonade by 58.9% during the second quarter. Goldman Sachs Group Inc. now owns 372,554 shares of the company’s stock worth $6,803,000 after purchasing an additional 138,042 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Lemonade by 128.6% during the second quarter. Northern Trust Corp now owns 365,304 shares of the company’s stock worth $6,671,000 after purchasing an additional 205,520 shares during the period. 67.70% of the stock is owned by institutional investors and hedge funds.
Lemonade Stock Down 0.7 %
Shares of LMND opened at $16.39 on Monday. The firm has a 50-day moving average price of $17.30 and a 200 day moving average price of $20.70. The firm has a market capitalization of $1.13 billion, a PE ratio of -3.40 and a beta of 1.49. Lemonade, Inc. has a 52-week low of $12.82 and a 52-week high of $35.84.
In other news, insider John Sheldon Peters sold 4,265 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $25.00, for a total transaction of $106,625.00. Following the completion of the transaction, the insider now owns 8,985 shares in the company, valued at approximately $224,625. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 36.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Lemonade from $28.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, November 10th. Piper Sandler dropped their price objective on shares of Lemonade from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, November 10th. Keefe, Bruyette & Woods assumed coverage on shares of Lemonade in a report on Thursday, November 17th. They issued a “market perform” rating and a $24.00 price objective on the stock. Finally, Oppenheimer dropped their price objective on shares of Lemonade to $30.00 in a report on Tuesday, November 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.86.
Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies.
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