Teachers Retirement System of The State of Kentucky Has $9.07 Million Stake in Lemonade, Inc. (NYSE:LMND)

Teachers Retirement System of The State of Kentucky increased its stake in shares of Lemonade, Inc. (NYSE:LMND) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,050 shares of the company’s stock after acquiring an additional 6,900 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.13% of Lemonade worth $9,072,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. ADE LLC acquired a new stake in Lemonade in the 4th quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in Lemonade in the 4th quarter valued at $28,000. Sowell Financial Services LLC acquired a new stake in Lemonade in the 4th quarter valued at $31,000. Trustcore Financial Services LLC acquired a new stake in Lemonade in the 4th quarter valued at $31,000. Finally, IFP Advisors Inc acquired a new position in shares of Lemonade during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

Shares of NYSE LMND opened at $91.66 on Thursday. Lemonade, Inc. has a 52-week low of $44.11 and a 52-week high of $188.30. The firm has a 50 day moving average price of $108.07 and a two-hundred day moving average price of $99.16.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, March 2nd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.05. The business had revenue of $20.50 million during the quarter, compared to analyst estimates of $19.22 million. The business’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, research analysts expect that Lemonade, Inc. will post -4.36 earnings per share for the current year.

In other news, insider John Sheldon Peters sold 62,530 shares of the company’s stock in a transaction on Friday, January 15th. The shares were sold at an average price of $150.85, for a total value of $9,432,650.50. Following the sale, the insider now directly owns 93,337 shares of the company’s stock, valued at approximately $14,079,886.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Timothy E. Bixby sold 50,000 shares of the company’s stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $159.43, for a total transaction of $7,971,500.00. Following the completion of the sale, the chief financial officer now directly owns 230,000 shares in the company, valued at $36,668,900. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 961,572 shares of company stock valued at $151,129,294.

Several analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Lemonade from $70.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 12th. Bank of America assumed coverage on shares of Lemonade in a research report on Monday, March 15th. They issued an “underperform” rating and a $29.00 target price for the company. JMP Securities boosted their target price on shares of Lemonade from $105.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, March 9th. Piper Sandler dropped their target price on shares of Lemonade from $159.00 to $134.00 and set an “overweight” rating for the company in a research report on Tuesday, March 30th. Finally, Zacks Investment Research cut shares of Lemonade from a “hold” rating to a “sell” rating in a research report on Friday, March 5th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $90.29.

Lemonade Profile

Lemonade, Inc provides various insurance products in the United States and Europe. Its insurance products cover 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 landlord insurance policies to condo and co-op owners who rent out their property to protect their real and personal properties.

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Institutional Ownership by Quarter for Lemonade (NYSE:LMND)

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