Baillie Gifford & Co. Has $124.12 Million Stake in Lemonade, Inc. (NYSE:LMND)

Baillie Gifford & Co. cut its stake in shares of Lemonade, Inc. (NYSE:LMND) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,383,887 shares of the company’s stock after selling 341,196 shares during the period. Baillie Gifford & Co. owned approximately 4.74% of Lemonade worth $124,121,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in shares of Lemonade in the fourth quarter valued at about $2,712,000. Rhumbline Advisers increased its stake in Lemonade by 2.1% during the 4th quarter. Rhumbline Advisers now owns 75,705 shares of the company’s stock worth $2,777,000 after acquiring an additional 1,561 shares during the period. Bristlecone Advisors LLC boosted its holdings in shares of Lemonade by 10.2% in the 4th quarter. Bristlecone Advisors LLC now owns 14,577 shares of the company’s stock valued at $535,000 after purchasing an additional 1,348 shares in the last quarter. Woodward Diversified Capital LLC acquired a new stake in shares of Lemonade in the 4th quarter valued at $381,000. Finally, Watershed Private Wealth LLC acquired a new stake in shares of Lemonade during the 4th quarter valued at $286,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Stock Performance

Shares of LMND opened at $36.11 on Tuesday. The stock has a market capitalization of $2.58 billion, a PE ratio of -11.88 and a beta of 2.15. The company has a 50 day moving average price of $36.27 and a 200-day moving average price of $28.35. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LMND shares. BMO Capital Markets raised their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. Piper Sandler boosted their target price on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, JMP Securities upped their price target 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. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.67.

Insider Buying and Selling at Lemonade

In related news, insider Maya Prosor sold 30,000 shares of the 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 sale, the insider now directly owns 29,286 shares of the company’s stock, valued at approximately $1,464,300. This represents a 50.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Sheldon Peters sold 28,985 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the sale, the insider now directly owns 69,508 shares in the company, valued at $2,687,874.36. This trade represents a 29.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 823,301 shares of company stock worth $36,550,924. 12.50% of the stock is owned by corporate insiders.

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.