Northern Trust Corp Increases Position in Lemonade, Inc. (NYSE:LMND)

Northern Trust Corp increased its position in shares of Lemonade, Inc. (NYSE:LMND) by 23.7% during the 4th quarter, Holdings Channel reports. The firm owned 562,502 shares of the company’s stock after acquiring an additional 107,592 shares during the period. Northern Trust Corp’s holdings in Lemonade were worth $20,633,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LMND. JPMorgan Chase & Co. lifted its position in shares of Lemonade by 2,627.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock worth $49,494,000 after buying an additional 1,299,891 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Lemonade by 402.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock worth $10,093,000 after acquiring an additional 220,399 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Lemonade during the 4th quarter valued at approximately $7,269,000. Vanguard Group Inc. grew its holdings in shares of Lemonade by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock valued at $195,999,000 after purchasing an additional 134,776 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Lemonade by 220.7% in the fourth quarter. First Trust Advisors LP now owns 184,348 shares of the company’s stock valued at $6,762,000 after purchasing an additional 126,862 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Lemonade Trading Up 2.0%

Shares of LMND opened at $32.60 on Wednesday. The company’s fifty day simple moving average is $30.73 and its 200-day simple moving average is $34.41. The company has a market cap of $2.39 billion, a P/E ratio of -10.72 and a beta of 2.13. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.67) EPS. Analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Keefe, Bruyette & Woods dropped their price target on Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley downgraded Lemonade from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.17.

Insider Transactions at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 471,960 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $31.15, for a total value of $14,701,554.00. Following the transaction, the insider now owns 7,998,723 shares of the company’s stock, valued at $249,160,221.45. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total value of $64,167.21. Following the sale, the insider now directly owns 87,609 shares of the company’s stock, valued at approximately $2,960,308.11. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,857,608 shares of company stock worth $58,570,645. Insiders own 14.70% of the company’s stock.

About Lemonade

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.