State Board of Administration of Florida Retirement System lowered its position in Lemonade, Inc. (NYSE:LMND – Get Rating) by 43.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,316 shares of the company’s stock after selling 25,246 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Lemonade were worth $590,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in LMND. MetLife Investment Management LLC purchased a new position in Lemonade in the first quarter worth approximately $25,000. Prospera Financial Services Inc acquired a new position in shares of Lemonade in the 1st quarter valued at $36,000. Asset Management One Co. Ltd. increased its holdings in shares of Lemonade by 19.6% in the 2nd quarter. Asset Management One Co. Ltd. now owns 3,084 shares of the company’s stock valued at $56,000 after acquiring an additional 506 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Lemonade by 592.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,565 shares of the company’s stock valued at $94,000 after acquiring an additional 3,050 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Lemonade by 6.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 10,685 shares of the company’s stock valued at $195,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 48.60% of the company’s stock.
Analyst Ratings Changes
LMND has been the topic of a number of recent research reports. Barclays cut their target price on shares of Lemonade from $28.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, November 10th. Oppenheimer dropped their price objective on shares of Lemonade to $30.00 in a research note on Tuesday, November 15th. Keefe, Bruyette & Woods assumed coverage on shares of Lemonade in a research note on Thursday. They issued a “market perform” rating and a $24.00 price objective on the stock. Finally, Piper Sandler dropped their price objective on shares of Lemonade from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, November 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lemonade currently has a consensus rating of “Hold” and an average target price of $24.86.
Lemonade Stock Down 3.4 %
Insider Buying and Selling
In related news, insider John Sheldon Peters sold 4,265 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $25.00, for a total value of $106,625.00. Following the sale, the insider now directly owns 8,985 shares in the company, valued at approximately $224,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 36.70% of the company’s stock.
Lemonade Company Profile
Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies.
- Get a free copy of the StockNews.com research report on Lemonade (LMND)
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