Lemonade, Inc. (NYSE:LMND) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. reduced its holdings in shares of Lemonade, Inc. (NYSE:LMND) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,725,083 shares of the company’s stock after selling 336,308 shares during the period. Baillie Gifford & Co. owned about 0.05% of Lemonade worth $61,427,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in Lemonade in the 2nd quarter valued at about $14,181,000. General Equity Holdings LP acquired a new stake in Lemonade in the second quarter valued at $5,198,000. GSA Capital Partners LLP lifted its stake in Lemonade by 31.0% during the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after purchasing an additional 42,822 shares during the last quarter. Millennium Management LLC lifted its position in shares of Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Lemonade by 12.7% in the second quarter. American Century Companies Inc. now owns 86,757 shares of the company’s stock valued at $1,431,000 after acquiring an additional 9,793 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LMND shares. JMP Securities reissued a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a report on Tuesday, October 15th. Jefferies Financial Group lowered their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Piper Sandler upped their price objective on Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, 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 research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.83.

Lemonade Price Performance

Shares of LMND opened at $32.27 on Wednesday. The firm 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.88) earnings per share. Equities analysts forecast that Lemonade, Inc. will post -3.05 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Timothy E. Bixby sold 2,050 shares of the company’s 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.50% of the company’s stock.

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.