Nisa Investment Advisors LLC Purchases 380 Shares of Lemonade, Inc. (NYSE:LMND)

Nisa Investment Advisors LLC lifted its position in Lemonade, Inc. (NYSE:LMND) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,020 shares of the company’s stock after buying an additional 380 shares during the period. Nisa Investment Advisors LLC’s holdings in Lemonade were worth $346,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quarry LP increased its position in shares of Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after buying an additional 700 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock valued at $42,000 after buying an additional 867 shares in the last quarter. BNP Paribas bought a new stake in shares of Lemonade in the 4th quarter valued at $57,000. PNC Financial Services Group Inc. increased its position in shares of Lemonade by 116.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after buying an additional 860 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Lemonade in the 4th quarter valued at $95,000. Institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LMND. Wall Street Zen upgraded Lemonade from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $26.00 target price (up previously from $22.00) on shares of Lemonade in a report on Tuesday, July 1st. BMO Capital Markets increased their target price on Lemonade from $15.00 to $23.00 and gave the stock an “underperform” rating in a report on Wednesday, July 2nd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $26.00 target price (up previously from $24.00) on shares of Lemonade in a report on Monday. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.50.

Lemonade Trading Up 2.7%

Shares of LMND opened at $39.96 on Thursday. Lemonade, Inc. has a 12 month low of $14.90 and a 12 month high of $53.85. The firm’s 50 day moving average is $37.78 and its 200-day moving average is $34.43. The stock has a market capitalization of $2.93 billion, a PE ratio of -13.15 and a beta of 2.20.

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 return on equity of 36.72% and a negative net margin of 38.90%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.67) EPS. Equities research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Softbank Group Capital Ltd sold 387,282 shares of Lemonade stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $32.84, for a total transaction of $12,718,340.88. Following the transaction, the insider owned 7,111,441 shares in the company, valued at approximately $233,539,722.44. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Sheldon Peters sold 6,543 shares of Lemonade stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $294,435.00. Following the transaction, the insider owned 106,115 shares in the company, valued at approximately $4,775,175. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,509,545 shares of company stock valued at $78,775,964. 14.70% of the stock is currently owned by insiders.

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.