Lemonade, Inc. (NYSE:LMND) Shares Sold by Titleist Asset Management LLC

Titleist Asset Management LLC reduced its stake in Lemonade, Inc. (NYSE:LMND) by 41.7% in the 4th quarter, Holdings Channel reports. The firm owned 34,378 shares of the company’s stock after selling 24,564 shares during the quarter. Titleist Asset Management LLC’s holdings in Lemonade were worth $1,261,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC acquired a new position in shares of Lemonade during the fourth quarter worth $40,000. Russell Investments Group Ltd. lifted its holdings in Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after buying an additional 867 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Lemonade by 116.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after buying an additional 860 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Lemonade in the 4th quarter valued at about $67,000. Finally, US Bancorp DE grew its stake in shares of Lemonade by 574.5% during the fourth quarter. US Bancorp DE now owns 1,875 shares of the company’s stock valued at $69,000 after acquiring an additional 1,597 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Performance

LMND opened at $28.19 on Friday. Lemonade, Inc. has a 1-year low of $14.03 and a 1-year high of $53.85. The company has a 50-day moving average of $34.36 and a 200-day moving average of $32.29. The company has a market capitalization of $2.05 billion, a P/E ratio of -9.27 and a beta of 2.13.

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

Insider Buying and Selling

In other Lemonade news, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value of $64,167.21. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $37.08, for a total value of $7,585,641.00. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold 248,634 shares of company stock worth $9,219,003 over the last ninety days. 12.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price target on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.00.

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.