BIT Capital GmbH Decreases Stock Position in Lemonade, Inc. (NYSE:LMND)

BIT Capital GmbH trimmed its holdings in Lemonade, Inc. (NYSE:LMND - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 399,720 shares of the company's stock after selling 100,578 shares during the period. Lemonade comprises about 1.2% of BIT Capital GmbH's investment portfolio, making the stock its 19th largest holding. BIT Capital GmbH owned about 0.56% of Lemonade worth $14,662,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Avior Wealth Management LLC acquired a new stake in shares of Lemonade in the fourth quarter valued at about $40,000. PNC Financial Services Group Inc. lifted its stake in shares of Lemonade by 116.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company's stock worth $59,000 after buying an additional 860 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Lemonade in the 4th quarter valued at about $67,000. US Bancorp DE raised its holdings in Lemonade by 574.5% in the 4th quarter. US Bancorp DE now owns 1,875 shares of the company's stock valued at $69,000 after acquiring an additional 1,597 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company's stock worth $74,000 after acquiring an additional 3,403 shares during the period. 80.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price objective on Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $31.00.

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Lemonade Price Performance

NYSE LMND traded down $0.95 during trading hours on Monday, reaching $31.52. 786,700 shares of the stock traded hands, compared to its average volume of 1,893,712. The stock has a 50 day simple moving average of $34.54 and a two-hundred day simple moving average of $31.95. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -10.31 and a beta of 2.12.

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

Insider Activity

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the transaction, the insider now owns 10,452,476 shares in the company, valued at approximately $389,041,156.72. This represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was 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 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. Over the last three months, insiders have sold 248,634 shares of company stock valued at $9,219,003. Company insiders own 12.50% of the company's stock.

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.