Main Management ETF Advisors LLC Invests $614,000 in Lemonade, Inc. (NYSE:LMND)

Main Management ETF Advisors LLC acquired a new position in Lemonade, Inc. (NYSE:LMND) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 37,248 shares of the company’s stock, valued at approximately $614,000.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after acquiring an additional 1,879 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after buying an additional 3,403 shares in the last quarter. Quest Partners LLC lifted its holdings in Lemonade by 1,647.6% during the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after buying an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Lemonade during the 2nd quarter worth approximately $180,000. Finally, Bristlecone Advisors LLC acquired a new stake in Lemonade during the 3rd quarter worth approximately $218,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lemonade

In other Lemonade news, insider Maya Prosor sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,500,000.00. Following the transaction, the insider now directly owns 29,286 shares of the company’s stock, valued at approximately $1,464,300. This trade represents a 50.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at $9,482,650. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,892 shares of company stock valued at $5,283,045 in the last ninety days. Insiders own 12.50% of the company’s stock.

Lemonade Trading Up 2.2 %

Shares of LMND opened at $47.03 on Friday. Lemonade, Inc. has a twelve month low of $14.03 and a twelve month high of $53.85. The firm’s fifty day simple moving average is $29.06 and its 200-day simple moving average is $21.62. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -15.47 and a beta of 2.09.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to analyst estimates 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 revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned ($0.88) EPS. On average, analysts predict that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. JMP Securities increased their target price on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group reduced their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Finally, BMO Capital Markets increased their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.43.

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.