BIT Capital GmbH Lowers Holdings in Lemonade, Inc. (NYSE:LMND)

BIT Capital GmbH reduced its stake in shares of Lemonade, Inc. (NYSE:LMND) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,720 shares of the company’s stock after selling 100,578 shares during the period. Lemonade accounts for about 1.2% of BIT Capital GmbH’s investment portfolio, making the stock its 19th largest position. BIT Capital GmbH owned 0.56% of Lemonade worth $14,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock worth $49,494,000 after purchasing an additional 1,299,891 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Lemonade by 402.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock valued at $10,093,000 after buying an additional 220,399 shares during the period. FMR LLC increased its holdings in shares of Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after buying an additional 153,362 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Lemonade by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock worth $195,999,000 after buying an additional 134,776 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Lemonade in the third quarter valued at $1,571,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price target on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Lemonade Trading Down 6.3 %

NYSE:LMND opened at $34.32 on Thursday. The firm’s fifty day simple moving average is $34.53 and its 200 day simple moving average is $31.64. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -11.29 and a beta of 2.12.

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

Insiders Place Their Bets

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the sale, the insider now owns 10,494,636 shares in the company, valued at $389,141,102.88. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total value of $64,167.21. Following the completion of the transaction, the insider now directly owns 87,609 shares in the company, valued at approximately $2,960,308.11. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,459 shares of company stock worth $8,770,658 in the last 90 days. 12.50% of the stock is owned by company insiders.

Lemonade 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.