Empower Advisory Group LLC Has $245,000 Holdings in Lemonade, Inc. (NYSE:LMND)

Empower Advisory Group LLC cut its stake in shares of Lemonade, Inc. (NYSE:LMND) by 42.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,676 shares of the company’s stock after selling 4,912 shares during the period. Empower Advisory Group LLC’s holdings in Lemonade were worth $245,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in Lemonade by 4.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock worth $390,000 after acquiring an additional 500 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Lemonade in the fourth quarter valued at approximately $40,000. Bristlecone Advisors LLC raised its position in shares of Lemonade by 10.2% in the fourth quarter. Bristlecone Advisors LLC now owns 14,577 shares of the company’s stock valued at $535,000 after buying an additional 1,348 shares in the last quarter. Rhumbline Advisers raised its position in shares of Lemonade by 2.1% in the fourth quarter. Rhumbline Advisers now owns 75,705 shares of the company’s stock valued at $2,777,000 after buying an additional 1,561 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Lemonade in the fourth quarter valued at approximately $67,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Lemonade Price Performance

Shares of NYSE:LMND opened at $36.47 on Thursday. The company’s 50 day simple moving average is $36.09 and its 200 day simple moving average is $28.56. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -12.00 and a beta of 2.15. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 28,985 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the sale, the insider now owns 69,508 shares of the company’s stock, valued at approximately $2,687,874.36. The trade was a 29.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the sale, the insider now directly owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 769,657 shares of company stock valued at $33,868,724. 12.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LMND. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. JMP Securities lifted their price target on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Piper Sandler lifted their price target on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. BMO Capital Markets lifted their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lemonade currently has an average rating of “Hold” and a consensus price target of $32.67.

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.