GAMMA Investing LLC Raises Stock Position in Lemonade, Inc. (NYSE:LMND)

GAMMA Investing LLC grew its holdings in shares of Lemonade, Inc. (NYSE:LMND) by 35,901.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,801 shares of the company’s stock after purchasing an additional 19,746 shares during the period. GAMMA Investing LLC’s holdings in Lemonade were worth $630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP grew its position in shares of Lemonade by 300.4% during the fourth quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after buying an additional 700 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Lemonade by 318.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after buying an additional 867 shares in the last quarter. BNP Paribas acquired a new position in shares of Lemonade during the fourth quarter worth about $57,000. PNC Financial Services Group Inc. grew its position in shares of Lemonade by 116.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock worth $59,000 after buying an additional 860 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Lemonade during the fourth quarter worth about $67,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the sale, the insider now directly owns 10,452,476 shares of the company’s stock, valued at $389,041,156.72. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Sheldon Peters sold 1,494 shares of Lemonade stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $35.25, for a total value of $52,663.50. Following the transaction, the insider now owns 106,115 shares in the company, valued at $3,740,553.75. This represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,744,737 shares of company stock worth $87,411,365 in the last 90 days. 14.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Lemonade Price Performance

Lemonade stock opened at $40.44 on Thursday. The stock’s 50-day moving average is $32.28 and its 200-day moving average is $34.52. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -13.30 and a beta of 2.14. Lemonade, Inc. has a 12 month low of $14.90 and a 12 month high of $53.85.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative net margin of 38.90% and a negative return on equity of 36.72%. During the same period in the previous year, the company earned ($0.67) EPS. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. Research analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current year.

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.