Seven Eight Capital LP Makes New Investment in Lemonade, Inc. (NYSE:LMND)

Seven Eight Capital LP acquired a new stake in Lemonade, Inc. (NYSE:LMNDFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 60,574 shares of the company’s stock, valued at approximately $704,000. Seven Eight Capital LP owned approximately 0.09% of Lemonade at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its holdings in Lemonade by 56.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 25,960 shares of the company’s stock worth $685,000 after purchasing an additional 9,369 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Lemonade during the 1st quarter valued at $25,000. BlackRock Inc. lifted its stake in Lemonade by 3.4% in the first quarter. BlackRock Inc. now owns 1,517,589 shares of the company’s stock valued at $40,019,000 after buying an additional 50,278 shares during the period. Allianz Asset Management GmbH acquired a new position in Lemonade during the first quarter valued at approximately $4,485,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Lemonade by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 196,482 shares of the company’s stock worth $5,182,000 after purchasing an additional 5,176 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $17.76 on Friday. Lemonade, Inc. has a 12-month low of $10.27 and a 12-month high of $24.81. The business has a 50 day moving average of $16.91 and a 200-day moving average of $15.31.

Lemonade (NYSE:LMNDGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.18. The business had revenue of $115.50 million during the quarter, compared to the consensus estimate of $111.71 million. Lemonade had a negative return on equity of 31.29% and a negative net margin of 55.12%. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.93) EPS. As a group, analysts expect that Lemonade, Inc. will post -3.05 EPS for the current year.

Insider Buying and Selling

In other Lemonade news, CFO Timothy E. Bixby bought 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $16.54 per share, with a total value of $165,400.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $165,400. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LMND has been the subject of a number of recent analyst reports. TD Cowen began coverage on shares of Lemonade in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Lemonade in a research note on Thursday, February 29th. Oppenheimer restated a “market perform” rating on shares of Lemonade in a report on Friday, December 1st. Keefe, Bruyette & Woods increased their price objective on Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. Finally, Morgan Stanley boosted their target price on Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.25.

View Our Latest Stock Report on LMND

About Lemonade

(Free Report)

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, car, pet, and life insurance products, as well as landlord insurance policies.

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Institutional Ownership by Quarter for Lemonade (NYSE:LMND)

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