Renaissance Technologies LLC Acquires Shares of 198,187 Lemonade, Inc. (NYSE:LMND)

Renaissance Technologies LLC acquired a new stake in Lemonade, Inc. (NYSE:LMND - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 198,187 shares of the company's stock, valued at approximately $7,269,000. Renaissance Technologies LLC owned about 0.28% of Lemonade at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LMND. Avior Wealth Management LLC acquired a new stake in shares of Lemonade in the fourth quarter worth about $40,000. Russell Investments Group Ltd. boosted its holdings in shares of Lemonade by 318.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company's stock worth $42,000 after buying an additional 867 shares during the period. PNC Financial Services Group Inc. raised its holdings in Lemonade by 116.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company's stock worth $59,000 after acquiring an additional 860 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Lemonade during the 4th quarter worth $67,000. Finally, US Bancorp DE grew its position in shares of Lemonade by 574.5% in the fourth quarter. US Bancorp DE now owns 1,875 shares of the company's stock valued at $69,000 after purchasing an additional 1,597 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider John Sheldon Peters sold 1,899 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 87,609 shares of the company's stock, valued at $2,960,308.11. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the transaction, 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 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. 12.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their price objective on Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a research report on Tuesday. Piper Sandler decreased their price objective on Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley downgraded Lemonade from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $35.00 to $24.00 in a research report 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. According to MarketBeat.com, Lemonade has a consensus rating of "Hold" and a consensus price target of $28.17.

Lemonade Trading Up 2.9 %

Shares of LMND traded up $0.81 during mid-day trading on Thursday, hitting $28.91. 383,957 shares of the company traded hands, compared to its average volume of 1,916,723. Lemonade, Inc. has a one year low of $14.03 and a one year high of $53.85. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -9.51 and a beta of 2.13. The business has a 50-day moving average of $32.14 and a 200 day moving average of $33.10.

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, topping 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 business had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. As a group, analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

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.