Tower Research Capital LLC TRC Purchases 5,670 Shares of Lemonade, Inc. (NYSE:LMND)

Tower Research Capital LLC TRC grew its position in shares of Lemonade, Inc. (NYSE:LMND) by 49.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,060 shares of the company’s stock after buying an additional 5,670 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Lemonade were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMND. JPMorgan Chase & Co. lifted its holdings in Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock worth $49,494,000 after acquiring an additional 1,299,891 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Lemonade by 402.5% during 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 buying an additional 220,399 shares during the period. Renaissance Technologies LLC purchased a new stake in Lemonade during the fourth quarter worth about $7,269,000. Vanguard Group Inc. raised its position in 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 acquiring an additional 134,776 shares during the period. Finally, First Trust Advisors LP boosted its stake in Lemonade by 220.7% in the fourth quarter. First Trust Advisors LP now owns 184,348 shares of the company’s stock valued at $6,762,000 after acquiring an additional 126,862 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LMND shares. Morgan Stanley cut shares of Lemonade from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Piper Sandler lowered 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 cut their price target on Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Lemonade presently has an average rating of “Hold” and an average price target of $28.17.

Insider Activity

In related news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the transaction, the insider now directly owns 10,494,636 shares in the company, valued at $389,141,102.88. The trade was a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Sheldon Peters sold 1,899 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total value of $64,167.21. Following the completion of the sale, the insider now directly owns 87,609 shares in the company, valued at approximately $2,960,308.11. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 248,634 shares of company stock worth $9,219,003. 12.50% of the stock is owned by company insiders.

Lemonade Price Performance

NYSE:LMND opened at $29.54 on Monday. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The stock’s fifty day moving average price is $31.83 and its two-hundred day moving average price is $33.53. The company has a market cap of $2.15 billion, a P/E ratio of -9.72 and a beta of 2.13.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $144.78 million. On average, analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

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.