Halter Ferguson Financial Inc. Has $10.74 Million Stock Position in Lemonade, Inc. (NYSE:LMND)

Halter Ferguson Financial Inc. trimmed its holdings in Lemonade, Inc. (NYSE:LMND) by 60.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 292,790 shares of the company’s stock after selling 449,380 shares during the quarter. Lemonade accounts for about 4.4% of Halter Ferguson Financial Inc.’s holdings, making the stock its 3rd biggest holding. Halter Ferguson Financial Inc. owned approximately 0.41% of Lemonade worth $10,740,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LMND. Commonwealth Equity Services LLC purchased a new position in Lemonade during the 4th quarter valued at $201,000. Swiss National Bank increased its position in Lemonade by 1.7% during the 4th quarter. Swiss National Bank now owns 104,800 shares of the company’s stock valued at $3,844,000 after purchasing an additional 1,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Lemonade by 402.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock valued at $10,093,000 after purchasing an additional 220,399 shares during the period. PNC Financial Services Group Inc. increased its position in Lemonade by 116.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after purchasing an additional 860 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Lemonade during the 4th quarter valued at $1,613,000. 80.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LMND. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. BMO Capital Markets upped their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Piper Sandler cut their price objective on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, JMP Securities increased their price objective on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Three equities research 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. According to MarketBeat.com, Lemonade has a consensus rating of “Hold” and a consensus price target of $31.00.

Lemonade Stock Performance

Shares of NYSE LMND opened at $37.17 on Tuesday. The business’s 50 day moving average price is $34.23 and its 200-day moving average price is $30.91. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -12.23 and a beta of 2.12.

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

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction dated 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 transaction, the insider now owns 87,609 shares in the company, valued at $2,960,308.11. The trade was a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of Lemonade stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $43.02, for a total value of $304,022.34. Following the completion of the transaction, the insider now owns 10,699,211 shares of the company’s stock, valued at approximately $460,280,057.22. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,951 shares of company stock worth $1,489,040 in the last 90 days. Insiders own 12.50% of the company’s stock.

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.