Lemonade, Inc. (NYSE:LMND) Shares Bought by State Street Corp

State Street Corp increased its stake in Lemonade, Inc. (NYSE:LMND) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,233,662 shares of the company’s stock after acquiring an additional 14,028 shares during the period. State Street Corp owned approximately 1.73% of Lemonade worth $20,343,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LMND. Concurrent Investment Advisors LLC acquired a new stake in Lemonade in the 2nd quarter valued at about $180,000. Van ECK Associates Corp raised its holdings in shares of Lemonade by 12.1% in the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after purchasing an additional 1,915 shares in the last quarter. American Century Companies Inc. lifted its stake in Lemonade by 12.7% during the second quarter. American Century Companies Inc. now owns 86,757 shares of the company’s stock valued at $1,431,000 after purchasing an additional 9,793 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lemonade by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 64,665 shares of the company’s stock worth $1,067,000 after buying an additional 5,778 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in Lemonade during the second quarter worth approximately $269,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 1,790 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $45.50, for a total transaction of $81,445.00. Following the transaction, the insider now owns 88,493 shares of the company’s stock, valued at approximately $4,026,431.50. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction that occurred 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 sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at $7,586,120. This trade represents a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 871,514 shares of company stock worth $37,993,527. Corporate insiders own 12.50% of the company’s stock.

Lemonade Price Performance

NYSE:LMND opened at $39.90 on Tuesday. The stock has a market cap of $2.85 billion, a PE ratio of -13.13 and a beta of 2.09. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The stock’s 50-day moving average is $34.10 and its two-hundred day moving average is $23.47.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $129.10 million. During the same period in the previous year, the firm posted ($0.88) earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts anticipate that Lemonade, Inc. will post -3.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Jefferies Financial Group reduced their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. JMP Securities increased their price target on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Piper Sandler boosted their price objective on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets raised their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.43.

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.