Norges Bank Acquires Shares of 25,656 Lemonade, Inc. (NYSE:LMND)

Norges Bank acquired a new position in Lemonade, Inc. (NYSE:LMND - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,656 shares of the company's stock, valued at approximately $941,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Lemonade by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company's stock worth $195,999,000 after acquiring an additional 134,776 shares during the period. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 1,299,891 shares during the period. State Street Corp increased its holdings in Lemonade by 1.2% during the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company's stock worth $20,343,000 after purchasing an additional 14,028 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lemonade by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 452,164 shares of the company's stock worth $16,585,000 after buying an additional 3,867 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position 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 worth $10,093,000 after buying an additional 220,399 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Lemonade Stock Performance

NYSE:LMND traded down $0.31 during mid-day trading on Thursday, hitting $26.61. 167,844 shares of the company's stock traded hands, compared to its average volume of 1,919,080. The company has a fifty day moving average of $32.97 and a 200 day moving average of $32.74. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85. The company has a market capitalization of $1.94 billion, a P/E ratio of -8.81 and a beta of 2.13.

Lemonade (NYSE:LMND - Get Free Report) last announced 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. The firm 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, research analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Activity

In other Lemonade news, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the sale, the insider now owns 87,609 shares of the company's stock, valued at approximately $2,960,308.11. The trade was a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 10,494,636 shares in the company, valued at $389,141,102.88. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 248,634 shares of company stock valued at $9,219,003 over the last ninety days. 12.50% of the stock is currently owned by 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.