Nuveen Asset Management LLC Trims Stock Holdings in Lemonade, Inc. (NYSE:LMND)

Nuveen Asset Management LLC lowered its stake in Lemonade, Inc. (NYSE:LMND - Free Report) by 38.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,644 shares of the company's stock after selling 91,660 shares during the period. Nuveen Asset Management LLC owned approximately 0.21% of Lemonade worth $5,379,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of LMND. JPMorgan Chase & Co. lifted its stake in Lemonade by 2,627.9% during the fourth 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 last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Lemonade by 402.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company's stock valued at $10,093,000 after acquiring an additional 220,399 shares during the last quarter. Renaissance Technologies LLC bought a new position in Lemonade in the fourth quarter valued at about $7,269,000. Deutsche Bank AG raised its stake in Lemonade by 492.6% during the fourth quarter. Deutsche Bank AG now owns 182,081 shares of the company's stock worth $6,679,000 after acquiring an additional 151,357 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Lemonade by 2.6% in 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 last quarter. Institutional investors own 80.30% of the company's stock.

Lemonade Trading Down 2.0%

NYSE LMND traded down $0.70 during mid-day trading on Wednesday, hitting $34.39. The company's stock had a trading volume of 664,107 shares, compared to its average volume of 1,962,207. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -11.32 and a beta of 2.14. The company's 50 day simple moving average is $29.96 and its 200 day simple moving average is $34.99. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company's revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.67) earnings per share. As a group, research analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current year.

Analysts Set New Price Targets

LMND has been the topic of several research reports. Morgan Stanley lowered shares of Lemonade from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $35.00 to $24.00 in a report on Tuesday, April 8th. Piper Sandler decreased their price objective on Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Lemonade presently has a consensus rating of "Hold" and a consensus target price of $28.17.

Insider Activity at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock in a transaction 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 sale, the insider now directly owns 10,452,476 shares in the company, valued at approximately $389,041,156.72. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 2,742,991 shares of company stock valued at $87,349,818. 14.70% of the stock is owned by insiders.

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.