Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Lemonade, Inc. (NYSE:LMND)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Lemonade, Inc. (NYSE:LMND) by 21.5% in the 4th quarter, Holdings Channel reports. The fund owned 14,656 shares of the company’s stock after selling 4,019 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lemonade were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Lemonade in the 3rd quarter valued at about $375,000. Asset Management One Co. Ltd. boosted its position in shares of Lemonade by 48.0% during the third quarter. Asset Management One Co. Ltd. now owns 4,343 shares of the company’s stock worth $50,000 after buying an additional 1,409 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Lemonade during the third quarter worth about $117,000. Bank of New York Mellon Corp boosted its position in Lemonade by 9.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 228,948 shares of the company’s stock valued at $2,660,000 after buying an additional 19,252 shares during the period. Finally, Triumph Capital Management acquired a new position in Lemonade during the 3rd quarter worth $216,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Performance

Shares of LMND opened at $17.94 on Tuesday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.73 and a beta of 1.82. Lemonade, Inc. has a 1 year low of $10.27 and a 1 year high of $24.81. The company’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $16.51.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.14. The firm had revenue of $119.10 million during the quarter, compared to analyst estimates of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. Lemonade’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.95) earnings per share. Equities analysts expect that Lemonade, Inc. will post -2.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research report on Monday, April 15th. Keefe, Bruyette & Woods increased their target price on shares of Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. TD Cowen began coverage on Lemonade in a research note on Wednesday, January 10th. They set a “market perform” rating and a $17.00 target price for the company. Piper Sandler raised their price objective on shares of Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley boosted their target price on Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.88.

Insiders Place Their Bets

In related news, CFO Timothy E. Bixby bought 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $16.54 per share, for a total transaction of $165,400.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares in the company, valued at $165,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.50% of the stock is owned by insiders.

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.