Lemonade, Inc. (NYSE:LMND) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in Lemonade, Inc. (NYSE:LMND - Free Report) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,555 shares of the company's stock after selling 13,330 shares during the quarter. Alliancebernstein L.P. owned 0.08% of Lemonade worth $2,038,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LMND. JPMorgan Chase & Co. increased its stake in Lemonade by 2,627.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock worth $49,494,000 after buying an additional 1,299,891 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Lemonade by 402.5% in 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 purchasing an additional 220,399 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Lemonade by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company's stock valued at $195,999,000 after purchasing an additional 134,776 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Lemonade during the 4th quarter worth $2,712,000. Finally, Barclays PLC grew its holdings in shares of 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. 80.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lemonade

In related news, insider John Sheldon Peters sold 1,899 shares of Lemonade 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 sale, the insider now owns 87,609 shares in the company, valued at approximately $2,960,308.11. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00. Following the completion of the sale, the insider now directly owns 10,494,636 shares in the company, valued at approximately $389,141,102.88. The trade was a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 248,634 shares of company stock worth $9,219,003. Company insiders own 12.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LMND. Morgan Stanley lowered shares of Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th. Piper Sandler lowered their target price on Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.00.

Lemonade Stock Down 0.5 %

NYSE:LMND traded down $0.12 on Friday, hitting $26.80. The stock had a trading volume of 766,741 shares, compared to its average volume of 1,928,972. The company has a fifty day moving average price of $32.64 and a two-hundred day moving average price of $33.00. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -8.82 and a beta of 2.13. Lemonade, Inc. has a 1-year low of $14.03 and a 1-year high of $53.85.

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

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.