Nisa Investment Advisors LLC Sells 3,884 Shares of Lemonade, Inc. (NYSE:LMND)

Nisa Investment Advisors LLC reduced its stake in shares of Lemonade, Inc. (NYSE:LMND) by 27.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,140 shares of the company’s stock after selling 3,884 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Lemonade were worth $164,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Lemonade by 12.6% in the third quarter. Vanguard Group Inc. now owns 4,168,986 shares of the company’s stock valued at $88,299,000 after acquiring an additional 467,059 shares during the last quarter. BlackRock Inc. boosted its stake in Lemonade by 1.1% in the second quarter. BlackRock Inc. now owns 3,482,915 shares of the company’s stock valued at $58,687,000 after acquiring an additional 38,977 shares during the last quarter. State Street Corp boosted its stake in Lemonade by 7.8% in the second quarter. State Street Corp now owns 1,002,927 shares of the company’s stock valued at $16,899,000 after acquiring an additional 72,276 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Lemonade by 8.6% in the second quarter. Geode Capital Management LLC now owns 943,935 shares of the company’s stock valued at $15,905,000 after acquiring an additional 74,831 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $16.54 per share, for a total transaction of $165,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $165,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.70% of the stock is currently owned by company insiders.

Lemonade Stock Performance

LMND opened at $15.87 on Friday. The firm’s fifty day moving average is $16.84 and its two-hundred day moving average is $16.04. The firm has a market cap of $1.11 billion, a PE ratio of -4.65 and a beta of 1.89. Lemonade, Inc. has a twelve month low of $10.27 and a twelve month high of $24.81.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.18. Lemonade had a negative net margin of 55.12% and a negative return on equity of 31.29%. The business had revenue of $115.50 million for the quarter, compared to analyst estimates of $111.71 million. During the same period last year, the business posted ($0.93) earnings per share. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. Equities analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Lemonade in a research note on Thursday, February 29th. Keefe, Bruyette & Woods raised their price objective on shares of Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Monday, March 4th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. Finally, TD Cowen assumed coverage on shares of Lemonade in a report on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Lemonade currently has a consensus rating of “Hold” and an average price target of $17.11.

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.