Strategic Financial Concepts LLC Purchases Shares of 73,947 Lemonade, Inc. (NYSE:LMND)

Strategic Financial Concepts LLC acquired a new position in Lemonade, Inc. (NYSE:LMND) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,947 shares of the company’s stock, valued at approximately $2,712,000. Strategic Financial Concepts LLC owned approximately 0.10% of Lemonade as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LMND. Blue Trust Inc. boosted its stake in shares of Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares during the period. International Assets Investment Management LLC boosted its position in Lemonade by 1,549.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after buying an additional 18,480 shares during the last quarter. Bristlecone Advisors LLC acquired a new stake in shares of Lemonade during the third quarter valued at about $218,000. GSA Capital Partners LLP increased its position in shares of Lemonade by 31.0% during the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after acquiring an additional 42,822 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of Lemonade by 1,647.6% in the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after acquiring an additional 8,584 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Down 2.8 %

LMND opened at $36.11 on Tuesday. The company’s 50-day moving average price is $36.27 and its 200 day moving average price is $28.35. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -11.88 and a beta of 2.15.

Analyst Upgrades and Downgrades

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

Insider Transactions at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total value of $1,182,200.00. Following the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at $9,482,650. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were 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 of the company’s stock, valued at $498,863,471.01. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 823,301 shares of company stock worth $36,550,924. 12.50% of the stock is currently owned by company insiders.

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.