Nisa Investment Advisors LLC Increases Position in Lemonade, Inc. (NYSE:LMND)

Nisa Investment Advisors LLC lifted its holdings in shares of Lemonade, Inc. (NYSE:LMND) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,640 shares of the company’s stock after buying an additional 500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Lemonade were worth $390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mandatum Life Insurance Co Ltd purchased a new position in shares of Lemonade during the fourth quarter valued at about $378,000. Johnson & White Wealth Management LLC purchased a new position in Lemonade during the 4th quarter worth $234,000. Tidal Investments LLC grew its stake in Lemonade by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock valued at $752,000 after purchasing an additional 2,017 shares during the last quarter. Barclays PLC boosted its holdings in Lemonade by 292.5% during the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after buying an additional 65,144 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in Lemonade during the third quarter worth approximately $614,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Performance

Lemonade stock opened at $33.41 on Thursday. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The stock’s 50 day simple moving average is $39.96 and its two-hundred day simple moving average is $27.07. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -10.99 and a beta of 2.17.

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 during 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 firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.88) earnings per share. On average, analysts predict that Lemonade, Inc. will post -3.06 earnings per share for the current year.

Insider Activity at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the transaction, the insider now directly owns 11,263,569 shares of the company’s stock, valued at $498,863,471.01. This represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Sheldon Peters sold 28,985 shares of Lemonade stock in a transaction on Monday, December 30th. The shares were sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the completion of the transaction, the insider now directly owns 69,508 shares of the company’s stock, valued at $2,687,874.36. The trade was a 29.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 900,499 shares of company stock valued at $39,114,376 over the last 90 days. 12.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LMND has been the topic of several research reports. Piper Sandler increased their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. JMP Securities upped their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. BMO Capital Markets raised their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. 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 report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price target for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lemonade currently has a consensus rating of “Hold” and an average target price of $32.67.

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.