Lemonade, Inc. (NYSE:LMND) Stock Position Cut by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its stake in shares of Lemonade, Inc. (NYSE:LMND) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 448,297 shares of the company’s stock after selling 32,329 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.63% of Lemonade worth $7,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMND. Marshall Wace LLP acquired a new position in Lemonade during the second quarter worth about $14,181,000. General Equity Holdings LP acquired a new position in Lemonade in the second quarter worth approximately $5,198,000. Millennium Management LLC increased its holdings in shares of Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after buying an additional 131,784 shares in the last quarter. Landscape Capital Management L.L.C. boosted its position in shares of Lemonade by 17.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after purchasing an additional 48,260 shares during the period. Finally, Caxton Associates LP acquired a new position in shares of Lemonade in the second quarter worth about $737,000. 80.30% of the stock is currently owned by institutional investors.

Lemonade Stock Up 2.2 %

Shares of NYSE:LMND opened at $42.58 on Thursday. The business has a 50 day moving average price of $30.13 and a 200 day moving average price of $22.07. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -13.71 and a beta of 2.09. 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, October 30th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same period in the prior year, the company earned ($0.88) EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Analysts anticipate that Lemonade, Inc. will post -3.04 EPS for the current year.

Analyst Upgrades and Downgrades

LMND has been the subject of a number of recent analyst reports. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Piper Sandler raised their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. BMO Capital Markets upped their price target on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Jefferies Financial Group decreased their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.43.

Insider Buying and Selling

In other news, insider Maya Prosor sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 29,286 shares of the company’s stock, valued at approximately $1,464,300. This trade represents a 50.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Angelidis-Smith bought 15,042 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $33.23 per share, for a total transaction of $499,845.66. Following the purchase, the director now owns 33,554 shares of the company’s stock, valued at $1,114,999.42. This trade represents a 81.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 130,842 shares of company stock valued at $5,245,653 over the last three months. 12.50% of the stock is owned by corporate insiders.

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.