Baillie Gifford & Co. Cuts Stock Position in Lemonade, Inc. (NYSE:LMND)

Baillie Gifford & Co. decreased its holdings in shares of Lemonade, Inc. (NYSE:LMND) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,725,083 shares of the company’s stock after selling 336,308 shares during the period. Baillie Gifford & Co. owned about 5.22% of Lemonade worth $61,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in LMND. Blue Trust Inc. increased its stake in Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 1,879 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Lemonade in the second quarter worth approximately $180,000. Bristlecone Advisors LLC purchased a new stake in shares of Lemonade during the third quarter worth approximately $218,000. Headlands Technologies LLC acquired a new position in Lemonade in the 1st quarter valued at $231,000. Finally, Seven Eight Capital LP purchased a new position in Lemonade in the 2nd quarter valued at $269,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Activity at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the transaction, the chief financial officer now owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.50% of the stock is owned by insiders.

Lemonade Stock Performance

Shares of NYSE LMND opened at $32.27 on Wednesday. The company has a 50 day simple moving average of $19.26 and a 200-day simple moving average of $18.19. Lemonade, Inc. has a 1 year low of $13.72 and a 1 year high of $34.95.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter last year, the firm earned ($0.88) earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts anticipate that Lemonade, Inc. will post -3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LMND has been the subject of a number of research reports. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler upped their price objective on shares of Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Jefferies Financial Group decreased their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.83.

Lemonade Company 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.