Voloridge Investment Management LLC Buys New Position in Lemonade, Inc. (NYSE:LMND)

Voloridge Investment Management LLC bought a new stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 580,964 shares of the company's stock, valued at approximately $21,310,000. Voloridge Investment Management LLC owned 0.81% of Lemonade as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 134,776 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Lemonade by 2,627.9% in 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. Two Sigma Investments LP purchased a new position in shares of Lemonade during the fourth quarter valued at $22,066,000. Northern Trust Corp grew its stake in Lemonade by 23.7% during the 4th quarter. Northern Trust Corp now owns 562,502 shares of the company's stock valued at $20,633,000 after acquiring an additional 107,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 valued at $16,585,000 after purchasing an additional 3,867 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on LMND. Keefe, Bruyette & Woods decreased their price target on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday, April 22nd. Piper Sandler cut their target price on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Morgan Stanley cut shares of Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $35.00 to $24.00 in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Lemonade presently has an average rating of "Hold" and a consensus price target of $28.17.

Lemonade Trading Up 8.5%

Shares of LMND traded up $2.62 during mid-day trading on Tuesday, hitting $33.54. 1,422,856 shares of the company traded hands, compared to its average volume of 2,024,286. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -11.03 and a beta of 2.13. The business has a 50-day moving average of $30.13 and a 200 day moving average of $34.96. Lemonade, Inc. has a one year low of $14.03 and a one year high of $53.85.

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

Insiders Place Their Bets

In related news, insider John Sheldon Peters sold 1,899 shares of the stock in a transaction that occurred on 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 directly owns 87,609 shares of the company's stock, valued at approximately $2,960,308.11. This represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the completion of the transaction, the insider now owns 10,452,476 shares of the company's stock, valued at $389,041,156.72. This trade represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,744,890 shares of company stock worth $87,413,986 over the last ninety days. 14.70% of the stock is currently owned by corporate 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.