PDT Partners LLC Reduces Holdings in Lemonade, Inc. (NYSE:LMND)

PDT Partners LLC trimmed its stake in Lemonade, Inc. (NYSE:LMND - Free Report) by 19.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,591 shares of the company's stock after selling 29,187 shares during the quarter. PDT Partners LLC owned 0.17% of Lemonade worth $4,350,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC grew its position in Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company's stock worth $1,443,000 after purchasing an additional 65,144 shares during the period. Tidal Investments LLC raised its holdings in Lemonade by 4.6% during the third quarter. Tidal Investments LLC now owns 45,631 shares of the company's stock valued at $752,000 after acquiring an additional 2,017 shares during the period. Johnson & White Wealth Management LLC purchased a new position in Lemonade in the 4th quarter worth approximately $234,000. Mandatum Life Insurance Co Ltd purchased a new position in shares of Lemonade in the fourth quarter worth $378,000. Finally, Nisa Investment Advisors LLC lifted its stake in Lemonade by 4.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company's stock worth $390,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 80.30% of the company's stock.

Insider Activity at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total value 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. The trade was a 0.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of the firm's 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 sale, the insider now directly owns 87,609 shares in the company, valued at $2,960,308.11. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,134 shares of company stock valued at $9,234,003 in the last ninety days. Company insiders own 12.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley downgraded Lemonade from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th. Piper Sandler cut their target price on Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods decreased their price objective 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. Four research 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $28.17.

Lemonade Price Performance

NYSE LMND traded up $1.49 during midday trading on Friday, hitting $30.00. 1,789,535 shares of the company traded hands, compared to its average volume of 1,905,166. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85. The company has a market cap of $2.20 billion, a PE ratio of -9.87 and a beta of 2.13. The company's 50-day simple moving average is $31.37 and its 200-day simple moving average is $33.63.

Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.19. The firm had revenue of $148.80 million for the quarter, compared to the consensus estimate of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. On average, research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current year.

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.