Raymond James & Associates acquired a new position in shares of Lemonade, Inc. (NYSE:LMND – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,636 shares of the company’s stock, valued at approximately $263,000.
Several other large investors have also modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Lemonade by 28.5% during the 3rd quarter. Royal Bank of Canada now owns 2,536 shares of the company’s stock worth $54,000 after buying an additional 562 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Lemonade by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 173,021 shares of the company’s stock worth $2,467,000 after buying an additional 803 shares during the period. Commonwealth Equity Services LLC raised its stake in Lemonade by 5.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,684 shares of the company’s stock valued at $374,000 after purchasing an additional 878 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Lemonade by 91.7% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,892 shares of the company’s stock valued at $26,000 after purchasing an additional 905 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Lemonade by 91.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,909 shares of the company’s stock valued at $35,000 after purchasing an additional 913 shares during the last quarter. 54.64% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Piper Sandler cut their target price on shares of Lemonade from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Jefferies Financial Group cut their target price on shares of Lemonade from $14.00 to $10.00 in a research note on Friday, October 6th. Morgan Stanley upped their target price on shares of Lemonade from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Thursday, November 2nd. Finally, BMO Capital Markets upped their target price on shares of Lemonade from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Thursday, September 28th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.25.
Lemonade Stock Performance
Shares of LMND stock opened at $14.22 on Friday. Lemonade, Inc. has a 52-week low of $10.27 and a 52-week high of $24.81. The stock has a market cap of $994.26 million, a price-to-earnings ratio of -3.81 and a beta of 1.59. The firm has a fifty day moving average of $12.68 and a 200-day moving average of $15.51.
Lemonade (NYSE:LMND – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.05. The company had revenue of $114.50 million during the quarter, compared to analysts’ expectations of $104.52 million. Lemonade had a negative net margin of 64.12% and a negative return on equity of 32.41%. The business’s revenue was up 54.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.37) EPS. On average, sell-side analysts predict that Lemonade, Inc. will post -3.56 earnings per share for the current year.
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, car, pet, and life insurance products, as well as landlord insurance policies.
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