State Board of Administration of Florida Retirement System trimmed its holdings in Lemonade, Inc. (NYSE:LMND - Get Rating) by 43.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,226 shares of the company's stock after selling 13,120 shares during the quarter. State Board of Administration of Florida Retirement System's holdings in Lemonade were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. MetLife Investment Management LLC purchased a new stake in Lemonade in the first quarter worth about $25,000. CWM LLC grew its holdings in shares of Lemonade by 162.2% during the fourth quarter. CWM LLC now owns 2,176 shares of the company's stock valued at $30,000 after buying an additional 1,346 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Lemonade by 91.7% during the second quarter. Captrust Financial Advisors now owns 1,909 shares of the company's stock valued at $35,000 after buying an additional 913 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Lemonade during the third quarter valued at approximately $40,000. Finally, New England Capital Financial Advisors LLC purchased a new stake in shares of Lemonade during the fourth quarter valued at approximately $44,000. 67.70% of the stock is owned by hedge funds and other institutional investors.
Lemonade Price Performance
Shares of LMND stock opened at $15.83 on Monday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -3.64 and a beta of 1.49. Lemonade, Inc. has a one year low of $10.28 and a one year high of $32.97. The company's fifty day moving average price is $13.51 and its 200-day moving average price is $15.68.
Lemonade (NYSE:LMND - Get Rating) last posted its earnings results on Wednesday, May 3rd. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.19. Lemonade had a negative net margin of 93.89% and a negative return on equity of 33.54%. The company had revenue of $95.20 million during the quarter, compared to analysts' expectations of $88.20 million. During the same period last year, the company posted ($1.21) earnings per share. Lemonade's quarterly revenue was up 114.9% on a year-over-year basis. Equities research analysts expect that Lemonade, Inc. will post -3.86 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Barclays increased their price objective on shares of Lemonade from $16.00 to $17.00 in a research report on Tuesday, May 9th. Piper Sandler lowered their price objective on shares of Lemonade from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, February 24th. Bank of America lowered their price objective on shares of Lemonade from $14.00 to $12.00 in a research report on Thursday, May 4th. Finally, Jefferies Financial Group lowered their price objective on shares of Lemonade from $13.00 to $11.50 and set an "underperform" rating on the stock in a research report on Monday, April 10th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.06.
Insider Transactions at Lemonade
In other news, CFO Timothy E. Bixby sold 1,945 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $14.94, for a total value of $29,058.30. Following the sale, the chief financial officer now directly owns 270,055 shares in the company, valued at $4,034,621.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 36.70% of the company's stock.
Lemonade Company Profile
Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies.
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