Panagora Asset Management Inc. Has $3.70 Million Stake in Lemonade, Inc. (NYSE:LMND)

Panagora Asset Management Inc. reduced its stake in Lemonade, Inc. (NYSE:LMND - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,125 shares of the company's stock after selling 50,999 shares during the period. Panagora Asset Management Inc. owned approximately 0.33% of Lemonade worth $3,696,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in Lemonade in the 4th quarter valued at about $30,000. Quantbot Technologies LP acquired a new position in shares of Lemonade in the 3rd quarter valued at approximately $108,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Lemonade during the 3rd quarter valued at approximately $117,000. EMC Capital Management increased its stake in shares of Lemonade by 175.5% in the third quarter. EMC Capital Management now owns 11,000 shares of the company's stock worth $128,000 after buying an additional 7,007 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Lemonade during the 3rd quarter valued at $179,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Performance

Shares of LMND traded up $0.27 during mid-day trading on Friday, reaching $17.97. 1,317,411 shares of the company's stock traded hands, compared to its average volume of 1,784,058. The business's 50-day moving average price is $16.89 and its 200-day moving average price is $16.93. The stock has a market capitalization of $1.27 billion, a P/E ratio of -5.74 and a beta of 1.82. Lemonade, Inc. has a 12 month low of $10.27 and a 12 month high of $24.81.

Lemonade (NYSE:LMND - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.67) earnings per share for the quarter, beating analysts' consensus estimates of ($0.81) by $0.14. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The business had revenue of $119.10 million for the quarter, compared to analysts' expectations of $114.13 million. During the same period in the previous year, the business earned ($0.95) earnings per share. The company's revenue was up 25.1% on a year-over-year basis. Equities research analysts anticipate that Lemonade, Inc. will post -2.93 EPS for the current year.

Insiders Place Their Bets

In other Lemonade news, CFO Timothy E. Bixby acquired 10,000 shares of Lemonade stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $16.54 per share, for a total transaction of $165,400.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $165,400. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LMND has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of Lemonade from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Wednesday, February 28th. Jefferies Financial Group boosted their target price on shares of Lemonade from $14.00 to $16.00 and gave the company an "underperform" rating in a research note on Tuesday, May 7th. Keefe, Bruyette & Woods raised their price target on shares of Lemonade from $16.00 to $18.00 and gave the stock a "market perform" rating in a research report on Monday, March 4th. Piper Sandler boosted their price objective on shares of Lemonade from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Thursday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $18.86.

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.