Barclays PLC Raises Position in Lemonade, Inc. (NYSE:LMND)

Barclays PLC lifted its position in Lemonade, Inc. (NYSE:LMND) by 292.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,414 shares of the company’s stock after acquiring an additional 65,144 shares during the period. Barclays PLC owned 0.12% of Lemonade worth $1,443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in shares of Lemonade in the 2nd quarter worth about $14,181,000. General Equity Holdings LP purchased a new stake in Lemonade during the second quarter valued at $5,198,000. FMR LLC lifted its holdings in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after acquiring an additional 153,362 shares during the period. Millennium Management LLC boosted its position in Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after purchasing an additional 131,784 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Lemonade during the third quarter valued at approximately $1,571,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insider Buying and Selling

In other news, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value 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 approximately $7,586,120. This represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the sale, the insider now owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 900,499 shares of company stock valued at $39,114,376. Insiders own 12.50% of the company’s stock.

Lemonade Trading Down 6.1 %

Shares of NYSE:LMND opened at $32.33 on Monday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -10.63 and a beta of 2.17. The company has a 50-day moving average price of $39.66 and a 200 day moving average price of $25.79. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85.

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

Analysts Set New Price Targets

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

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.