AlphaQuest LLC Sells 7,078 Shares of Lemonade, Inc. (NYSE:LMND)

AlphaQuest LLC lessened its stake in Lemonade, Inc. (NYSE:LMND) by 77.7% in the fourth quarter, HoldingsChannel reports. The firm owned 2,027 shares of the company’s stock after selling 7,078 shares during the period. AlphaQuest LLC’s holdings in Lemonade were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LMND. FMR LLC grew its position in Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the period. Verition Fund Management LLC bought a new stake in Lemonade in the 3rd quarter worth approximately $1,571,000. Strategic Financial Concepts LLC bought a new stake in Lemonade in the 4th quarter worth approximately $2,712,000. Barclays PLC grew its position in Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after purchasing an additional 65,144 shares during the period. Finally, Landscape Capital Management L.L.C. grew its position in Lemonade by 17.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after purchasing an additional 48,260 shares during the period. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Performance

LMND opened at $34.74 on Thursday. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The firm’s fifty day moving average is $34.20 and its 200 day moving average is $31.05. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -11.43 and a beta of 2.12.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $144.78 million. On average, equities research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LMND shares. BMO Capital Markets lifted their price target on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. JMP Securities lifted 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. Morgan Stanley upgraded shares of 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 research note on Wednesday, November 20th. Finally, Piper Sandler dropped their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, two have 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 an average target price of $31.00.

Insider Activity at Lemonade

In other Lemonade news, 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 value of $1,120,849.95. Following the sale, the insider now directly owns 69,508 shares in the company, valued at approximately $2,687,874.36. The trade was a 29.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 12.50% of the stock is owned by corporate insiders.

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.