Fmr LLC Acquires 153,362 Shares of Lemonade, Inc. (NYSE:LMND)

Fmr LLC raised its holdings in shares of Lemonade, Inc. (NYSE:LMND) by 93.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 318,321 shares of the company’s stock after purchasing an additional 153,362 shares during the period. Fmr LLC owned 0.45% of Lemonade worth $5,249,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Blue Trust Inc. increased its position in Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares in the last quarter. Quest Partners LLC raised its position in shares of Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after purchasing an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Lemonade in the 2nd quarter worth about $180,000. Bristlecone Advisors LLC purchased a new stake in Lemonade during the 3rd quarter valued at about $218,000. Finally, Intech Investment Management LLC purchased a new stake in Lemonade during the 3rd quarter valued at about $264,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Stock Performance

LMND stock opened at $40.13 on Friday. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -13.20 and a beta of 2.09. The business’s 50-day moving average is $31.13 and its two-hundred day moving average is $22.34. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the prior year, the business earned ($0.88) EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts predict that Lemonade, Inc. will post -3.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JMP Securities upped their target price on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Finally, BMO Capital Markets boosted their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.43.

Insiders Place Their Bets

In related news, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total transaction of $945,760.00. Following the completion of the transaction, the chief operating officer now owns 189,653 shares in the company, valued at approximately $7,586,120. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maya Prosor sold 30,000 shares of Lemonade stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now owns 29,286 shares in the company, valued at approximately $1,464,300. This represents a 50.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,842 shares of company stock worth $5,245,653. Corporate insiders own 12.50% of the company’s stock.

Lemonade Company 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.