Voya Investment Management LLC Has $569,000 Stock Holdings in Lemonade, Inc. (NYSE:LMND)

Voya Investment Management LLC decreased its position in Lemonade, Inc. (NYSE:LMND) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,500 shares of the company’s stock after selling 1,120 shares during the period. Voya Investment Management LLC’s holdings in Lemonade were worth $569,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LMND. JPMorgan Chase & Co. raised its stake in shares of Lemonade by 2,627.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after purchasing an additional 1,299,891 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Lemonade by 402.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock valued at $10,093,000 after buying an additional 220,399 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Lemonade in the 4th quarter valued at $7,269,000. Vanguard Group Inc. lifted its holdings in shares of Lemonade by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock worth $195,999,000 after acquiring an additional 134,776 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Lemonade by 220.7% during the 4th quarter. First Trust Advisors LP now owns 184,348 shares of the company’s stock valued at $6,762,000 after acquiring an additional 126,862 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Piper Sandler cut their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley downgraded Lemonade from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods lowered their price target on Lemonade from $25.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 22nd. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and an average price target of $28.17.

Lemonade Stock Performance

Shares of LMND opened at $31.07 on Friday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -10.22 and a beta of 2.13. The stock has a fifty day moving average price of $30.87 and a two-hundred day moving average price of $34.11. Lemonade, Inc. has a 52-week low of $14.03 and a 52-week high of $53.85.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. During the same period in the prior year, the firm earned ($0.67) earnings per share. The firm’s revenue was up 27.0% compared to the same quarter last year. As a group, research analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Transactions at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 422,177 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $30.17, for a total transaction of $12,737,080.09. Following the transaction, the insider now owns 10,015,984 shares of the company’s stock, valued at approximately $302,182,237.28. This represents a 4.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total value of $64,167.21. Following the completion of the sale, the insider now directly owns 87,609 shares of the company’s stock, valued at $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,385,648 shares of company stock worth $43,869,091. Corporate insiders own 14.70% of the company’s stock.

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.