Fox Run Management L.L.C. Cuts Holdings in Lemonade, Inc. (NYSE:LMND)

Fox Run Management L.L.C. trimmed its position in Lemonade, Inc. (NYSE:LMND) by 30.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,989 shares of the company’s stock after selling 4,450 shares during the quarter. Fox Run Management L.L.C.’s holdings in Lemonade were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after acquiring an additional 14,028 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lemonade by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 452,164 shares of the company’s stock valued at $16,585,000 after purchasing an additional 3,867 shares in the last quarter. FMR LLC increased its position in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Lemonade by 402.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock valued at $10,093,000 after purchasing an additional 220,399 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Lemonade by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock valued at $5,545,000 after purchasing an additional 442 shares during the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Stock Down 6.3 %

Shares of LMND opened at $34.32 on Thursday. Lemonade, Inc. has a 52-week low of $14.03 and a 52-week high of $53.85. The company has a market cap of $2.50 billion, a PE ratio of -11.29 and a beta of 2.12. The business has a fifty day moving average of $34.53 and a 200 day moving average of $31.64.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.19. The firm had revenue of $148.80 million during the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. As a group, research analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the sale, the insider now owns 10,494,636 shares in the company, valued at $389,141,102.88. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction 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 approximately $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. Insiders sold 235,459 shares of company stock worth $8,770,658 over the last 90 days. Company insiders own 12.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their target price on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.00.

About Lemonade

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.