Alliancebernstein L.P. Decreases Stock Holdings in Lemonade, Inc. (NYSE:LMND)

Alliancebernstein L.P. lowered its holdings in Lemonade, Inc. (NYSE:LMND) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,555 shares of the company’s stock after selling 13,330 shares during the period. Alliancebernstein L.P. owned about 0.08% of Lemonade worth $2,038,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Avior Wealth Management LLC bought a new stake in shares of Lemonade during the 4th quarter worth $40,000. PNC Financial Services Group Inc. raised its position in Lemonade by 116.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock worth $59,000 after acquiring an additional 860 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Lemonade in the fourth quarter valued at about $67,000. US Bancorp DE grew its position in shares of Lemonade by 574.5% during the 4th quarter. US Bancorp DE now owns 1,875 shares of the company’s stock valued at $69,000 after acquiring an additional 1,597 shares during the period. Finally, KBC Group NV purchased a new stake in shares of Lemonade during the 4th quarter worth approximately $80,000. Institutional investors own 80.30% of the company’s stock.

Insider Activity at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the transaction, the insider now directly owns 10,494,636 shares in the company, valued at $389,141,102.88. The trade was a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Sheldon Peters sold 1,899 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value of $64,167.21. Following the completion of the transaction, the insider now owns 87,609 shares in the company, valued at $2,960,308.11. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 248,634 shares of company stock valued at $9,219,003. Corporate insiders own 12.50% of the company’s stock.

Lemonade Price Performance

Lemonade stock opened at $26.97 on Thursday. Lemonade, Inc. has a one year low of $14.03 and a one year high of $53.85. The firm has a market capitalization of $1.96 billion, a P/E ratio of -8.87 and a beta of 2.13. The business has a fifty day moving average price of $32.97 and a 200-day moving average price of $32.74.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $144.78 million. Sell-side analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LMND has been the subject of several research reports. Piper Sandler reduced their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Morgan Stanley lowered Lemonade from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.00.

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.