Bristlecone Advisors LLC Acquires 1,348 Shares of Lemonade, Inc. (NYSE:LMND)

Bristlecone Advisors LLC lifted its holdings in Lemonade, Inc. (NYSE:LMND) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,577 shares of the company’s stock after buying an additional 1,348 shares during the period. Bristlecone Advisors LLC’s holdings in Lemonade were worth $535,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp raised its position in shares of Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after acquiring an additional 14,028 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Lemonade by 17.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after acquiring an additional 48,260 shares in the last quarter. FMR LLC raised its position in shares of Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after acquiring an additional 153,362 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after acquiring an additional 42,822 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Lemonade by 388.7% in the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after acquiring an additional 131,784 shares in the last quarter. 80.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Lemonade

In other news, insider John Sheldon Peters sold 28,985 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $38.67, for a total value of $1,120,849.95. Following the transaction, the insider now owns 69,508 shares in the company, valued at $2,687,874.36. The trade was a 29.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total value of $304,022.34. Following the completion of the transaction, the insider now owns 10,699,211 shares in the company, valued at $460,280,057.22. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 846,945 shares of company stock worth $37,496,684. Insiders own 12.50% of the company’s stock.

Analysts Set New Price Targets

LMND has been the subject of a number of research analyst reports. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Piper Sandler boosted their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. BMO Capital Markets boosted their target price on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Finally, JMP Securities boosted their target price on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and a consensus target price of $32.67.

Lemonade Stock Performance

LMND stock opened at $37.78 on Tuesday. The company has a market capitalization of $2.70 billion, a P/E ratio of -12.43 and a beta of 2.15. Lemonade, Inc. has a 52-week low of $14.03 and a 52-week high of $53.85. The business has a 50-day simple moving average of $37.52 and a two-hundred day simple moving average of $27.75.

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.