Teacher Retirement System of Texas Purchases New Stake in Lemonade, Inc. (NYSE:LMND)

Teacher Retirement System of Texas purchased a new position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,827 shares of the company's stock, valued at approximately $246,000.

A number of other institutional investors also recently bought and sold shares of LMND. The Manufacturers Life Insurance Company boosted its stake in Lemonade by 7.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company's stock valued at $1,137,000 after acquiring an additional 2,209 shares in the last quarter. Invesco Ltd. boosted its stake in Lemonade by 14.0% in the fourth quarter. Invesco Ltd. now owns 76,718 shares of the company's stock valued at $2,814,000 after acquiring an additional 9,419 shares in the last quarter. GAMMA Investing LLC boosted its stake in Lemonade by 35,901.8% in the first quarter. GAMMA Investing LLC now owns 19,801 shares of the company's stock valued at $630,000 after acquiring an additional 19,746 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Lemonade by 23.7% during the fourth quarter. Northern Trust Corp now owns 562,502 shares of the company's stock worth $20,633,000 after buying an additional 107,592 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Lemonade by 220.7% during the fourth quarter. First Trust Advisors LP now owns 184,348 shares of the company's stock worth $6,762,000 after buying an additional 126,862 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 6,543 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total value of $294,435.00. Following the completion of the sale, the insider owned 106,115 shares in the company, valued at $4,775,175. This represents a 5.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $32.84, for a total transaction of $12,718,340.88. Following the transaction, the insider owned 7,111,441 shares in the company, valued at approximately $233,539,722.44. This trade represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,509,545 shares of company stock valued at $78,775,964 over the last ninety days. Insiders own 14.70% of the company's stock.

Lemonade Stock Up 3.4%

Shares of LMND traded up $1.37 during midday trading on Friday, hitting $42.10. The company had a trading volume of 2,046,833 shares, compared to its average volume of 2,105,156. The company's 50 day moving average price is $38.19 and its 200 day moving average price is $34.47. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -13.85 and a beta of 2.20. Lemonade, Inc. has a 52 week low of $14.90 and a 52 week high of $53.85.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 38.90% and a negative return on equity of 36.72%. During the same quarter in the prior year, the company posted ($0.67) EPS. The company's quarterly revenue was up 27.0% compared to the same quarter last year. Equities analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of Lemonade from $15.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday, July 2nd. Morgan Stanley restated an "underweight" rating and issued a $26.00 price objective (up previously from $24.00) on shares of Lemonade in a research report on Monday, July 14th. Wall Street Zen upgraded shares of Lemonade from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Keefe, Bruyette & Woods restated an "underperform" rating and issued a $26.00 price objective (up previously from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $30.50.

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.