Corient Private Wealth LLC Buys New Position in Lemonade, Inc. $LMND

Corient Private Wealth LLC purchased a new position in Lemonade, Inc. (NYSE:LMND) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,140 shares of the company’s stock, valued at approximately $313,000.

Other large investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its holdings in Lemonade by 4.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,683 shares of the company’s stock valued at $249,000 after purchasing an additional 220 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Lemonade by 30.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,034 shares of the company’s stock valued at $45,000 after buying an additional 243 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Lemonade by 5.9% during the second quarter. Teacher Retirement System of Texas now owns 8,285 shares of the company’s stock valued at $363,000 after acquiring an additional 458 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Lemonade by 1.7% during the second quarter. California State Teachers Retirement System now owns 49,388 shares of the company’s stock worth $2,164,000 after acquiring an additional 815 shares during the last quarter. Finally, Main Management ETF Advisors LLC lifted its stake in shares of Lemonade by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 51,310 shares of the company’s stock worth $2,248,000 after acquiring an additional 840 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Price Performance

Shares of Lemonade stock opened at $71.89 on Wednesday. The company’s 50 day moving average price is $72.12 and its two-hundred day moving average price is $56.83. The firm has a market capitalization of $5.37 billion, a P/E ratio of -30.08 and a beta of 2.13. Lemonade, Inc. has a fifty-two week low of $24.31 and a fifty-two week high of $85.20.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.21. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The company had revenue of $194.50 million for the quarter, compared to the consensus estimate of $185.06 million. During the same quarter last year, the business posted ($0.95) EPS. Lemonade’s revenue for the quarter was up 42.4% on a year-over-year basis. On average, analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Morgan Stanley set a $85.00 price target on shares of Lemonade and gave the stock an “equal weight” rating in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods upped their price target on shares of Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, November 25th. Piper Sandler decreased their price objective on shares of Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, October 10th. Finally, Citigroup restated a “market outperform” rating on shares of Lemonade in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Lemonade presently has a consensus rating of “Hold” and a consensus target price of $63.14.

Insider Activity at Lemonade

In related news, Director Debra Schwartz sold 4,200 shares of Lemonade stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $83.59, for a total transaction of $351,078.00. Following the sale, the director directly owned 21,567 shares in the company, valued at $1,802,785.53. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adina Eckstein sold 41,557 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $78.95, for a total transaction of $3,280,925.15. Following the completion of the transaction, the chief operating officer owned 204,229 shares of the company’s stock, valued at approximately $16,123,879.55. This trade represents a 16.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,725 shares of company stock worth $12,264,465 in the last quarter. 12.50% of the stock is owned by insiders.

About Lemonade

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.