Northern Trust Corp Raises Stock Holdings in Lemonade, Inc. (NYSE:LMND)

Northern Trust Corp grew its holdings in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 562,502 shares of the company's stock after acquiring an additional 107,592 shares during the quarter. Northern Trust Corp owned 0.79% of Lemonade worth $20,633,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 buying an additional 134,776 shares during the period. JPMorgan Chase & Co. boosted its holdings in Lemonade by 2,627.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock valued at $49,494,000 after acquiring an additional 1,299,891 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lemonade by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 452,164 shares of the company's stock valued at $16,585,000 after acquiring an additional 3,867 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Lemonade in the fourth quarter valued at $7,269,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $32.84, for a total value of $12,718,340.88. Following the completion of the transaction, the insider now owns 7,111,441 shares of the company's stock, valued at approximately $233,539,722.44. The trade was a 5.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Sheldon Peters sold 1,899 shares of the business's stock in a transaction dated 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 directly owns 87,609 shares of the company's stock, valued at approximately $2,960,308.11. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,744,890 shares of company stock worth $87,413,986 in the last quarter. Corporate insiders own 12.50% of the company's stock.

Lemonade Stock Up 4.0%

Shares of LMND stock traded up $1.26 during mid-day trading on Friday, reaching $32.55. 1,431,231 shares of the company's stock traded hands, compared to its average volume of 1,921,373. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $53.85. The company has a market cap of $2.39 billion, a P/E ratio of -10.71 and a beta of 2.13. The company's 50-day moving average price is $30.57 and its 200-day moving average price is $34.57.

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

Analyst Ratings Changes

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

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.