JPMorgan Chase & Co. Sells 7,696 Shares of Lemonade, Inc. (NYSE:LMND)

JPMorgan Chase & Co. trimmed its position in shares of Lemonade, Inc. (NYSE:LMND) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,465 shares of the company’s stock after selling 7,696 shares during the period. JPMorgan Chase & Co. owned approximately 0.07% of Lemonade worth $816,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after buying an additional 14,028 shares in the last quarter. Landscape Capital Management L.L.C. grew its holdings in Lemonade by 17.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after acquiring an additional 48,260 shares during the last quarter. FMR LLC increased its holdings in shares of 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 purchasing an additional 153,362 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Lemonade by 31.0% during the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after buying an additional 42,822 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Lemonade by 388.7% during the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after acquiring an additional 131,784 shares during the period. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Performance

Shares of Lemonade stock opened at $32.19 on Monday. Lemonade, Inc. has a 52-week low of $14.03 and a 52-week high of $53.85. The business’s 50 day simple moving average is $40.15 and its 200 day simple moving average is $26.82. The firm has a market cap of $2.30 billion, a PE ratio of -10.59 and a beta of 2.17.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.88) earnings per share. As a group, equities research analysts predict that Lemonade, Inc. will post -3.06 EPS for the current year.

Insider Buying and Selling at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’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 completion of the sale, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Maria Angelidis-Smith acquired 18,512 shares of the business’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $27.42 per share, with a total value of $507,599.04. Following the acquisition, the director now directly owns 18,512 shares in the company, valued at approximately $507,599.04. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 900,499 shares of company stock worth $39,114,376 over the last ninety days. Insiders own 12.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LMND shares. JMP Securities boosted their price target 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 dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets lifted their price target 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. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. Finally, Piper Sandler raised their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.67.

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.