Lemonade, Inc. (NYSE:LMND) Stock Position Cut by Baillie Gifford & Co.

Baillie Gifford & Co. lessened its stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,725,083 shares of the company's stock after selling 336,308 shares during the quarter. Baillie Gifford & Co. owned approximately 5.22% of Lemonade worth $61,427,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in Lemonade in the second quarter valued at $14,181,000. General Equity Holdings LP purchased a new stake in Lemonade in the 2nd quarter valued at about $5,198,000. Millennium Management LLC increased its stake in shares of Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company's stock valued at $2,734,000 after acquiring an additional 131,784 shares during the last quarter. Caxton Associates LP purchased a new position in shares of Lemonade during the 2nd quarter worth about $737,000. Finally, Tidal Investments LLC acquired a new stake in shares of Lemonade in the first quarter worth approximately $718,000. Institutional investors and hedge funds own 80.30% of the company's stock.

Lemonade Stock Performance

Lemonade stock traded down $0.28 during midday trading on Wednesday, hitting $31.99. 1,622,767 shares of the company were exchanged, compared to its average volume of 1,657,907. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $34.95. The company's fifty day moving average price is $19.54 and its 200-day moving average price is $18.29.

Lemonade (NYSE:LMND - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.07. The company had revenue of $136.60 million during the quarter, compared to analysts' expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business's revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.88) EPS. As a group, sell-side analysts expect that Lemonade, Inc. will post -3.05 EPS for the current fiscal year.

Insider Activity

In related news, CFO Timothy E. Bixby sold 2,050 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the sale, the chief financial officer now owns 271,552 shares of the company's stock, valued at approximately $4,953,108.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LMND shares. Piper Sandler upped their price target on shares of Lemonade from $18.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods downgraded Lemonade from a "market perform" rating to an "underperform" rating and upped their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Jefferies Financial Group reduced their target price on Lemonade from $15.00 to $14.00 and set an "underperform" rating on the stock in a report on Wednesday, October 9th. Finally, JMP Securities reissued a "market outperform" rating and set a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.83.

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.