Tidal Investments LLC Boosts Holdings in Lemonade, Inc. (NYSE:LMND)

Tidal Investments LLC boosted its stake in Lemonade, Inc. (NYSE:LMND) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,631 shares of the company’s stock after buying an additional 2,017 shares during the period. Tidal Investments LLC owned approximately 0.06% of Lemonade worth $752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC raised its holdings in shares of Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after buying an additional 65,144 shares during the period. Main Management ETF Advisors LLC acquired a new stake in shares of Lemonade in the third quarter valued at $614,000. State Street Corp boosted its holdings in Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after purchasing an additional 14,028 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Lemonade during the 3rd quarter worth about $1,571,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LMND has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and increased their target price for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Piper Sandler increased their price objective on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, JMP Securities boosted their target price on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and a consensus price target of $30.43.

Insider Activity

In related news, Director Maria Angelidis-Smith purchased 18,512 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the purchase, the director now directly owns 18,512 shares of the company’s stock, valued at $507,599.04. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of Lemonade stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $43.02, for a total transaction of $304,022.34. Following the completion of the transaction, the insider now owns 10,699,211 shares in the company, valued at approximately $460,280,057.22. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 869,724 shares of company stock valued at $37,912,082. Insiders own 12.50% of the company’s stock.

Lemonade Stock Up 9.0 %

NYSE:LMND opened at $41.54 on Friday. Lemonade, Inc. has a 52-week low of $14.03 and a 52-week high of $53.85. The stock’s 50 day moving average price is $34.10 and its 200 day moving average price is $23.42. The company has a market capitalization of $2.97 billion, a PE ratio of -13.66 and a beta of 2.09.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.88) EPS. As a group, sell-side analysts anticipate that Lemonade, Inc. will post -3.04 EPS for the current fiscal 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.