Lemonade, Inc. (NYSE:LMND) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Lemonade, Inc. (NYSE:LMND) by 2,627.9% during the fourth quarter, HoldingsChannel reports. The fund owned 1,349,356 shares of the company’s stock after buying an additional 1,299,891 shares during the period. JPMorgan Chase & Co.’s holdings in Lemonade were worth $49,494,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. FMR LLC boosted its position in shares of Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares in the last quarter. Verition Fund Management LLC acquired a new position in Lemonade during the third quarter worth about $1,571,000. Strategic Financial Concepts LLC acquired a new position in Lemonade during the fourth quarter worth about $2,712,000. Barclays PLC increased its holdings in Lemonade by 292.5% in the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after buying an additional 65,144 shares in the last quarter. Finally, Mandatum Life Insurance Co Ltd acquired a new stake in shares of Lemonade during the 4th quarter valued at approximately $378,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insider Transactions at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total value of $1,569,195.20. Following the completion of the sale, the insider now owns 10,452,476 shares in the company, valued at $389,041,156.72. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Sheldon Peters sold 1,899 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the transaction, the insider now directly owns 87,609 shares of the company’s stock, valued at approximately $2,960,308.11. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 248,634 shares of company stock worth $9,219,003 over the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Lemonade Price Performance

Shares of LMND opened at $28.19 on Friday. Lemonade, Inc. has a 1-year low of $14.03 and a 1-year high of $53.85. The firm has a 50 day simple moving average of $34.36 and a 200-day simple moving average of $32.29. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -9.27 and a beta of 2.13.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business had revenue of $148.80 million for the quarter, compared to the consensus estimate of $144.78 million. On average, equities analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.00.

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.