Citigroup Inc. lowered its stake in Lemonade, Inc. (NYSE:LMND) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,943 shares of the company’s stock after selling 10,446 shares during the period. Citigroup Inc.’s holdings in Lemonade were worth $6,230,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of LMND. Baillie Gifford & Co. increased its holdings in shares of Lemonade by 39.9% in the second quarter. Baillie Gifford & Co. now owns 5,092,731 shares of the company’s stock valued at $557,195,000 after purchasing an additional 1,452,085 shares in the last quarter. Thrive Capital Management LLC acquired a new stake in shares of Lemonade in the third quarter valued at approximately $54,772,000. Coatue Management LLC acquired a new stake in shares of Lemonade in the first quarter valued at approximately $54,212,000. BlackRock Inc. increased its holdings in shares of Lemonade by 65.7% in the first quarter. BlackRock Inc. now owns 1,117,889 shares of the company’s stock valued at $104,109,000 after purchasing an additional 443,220 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in shares of Lemonade by 496.2% in the first quarter. Voloridge Investment Management LLC now owns 395,866 shares of the company’s stock valued at $36,867,000 after purchasing an additional 329,469 shares in the last quarter. 33.32% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on LMND shares. Piper Sandler lowered their price target on shares of Lemonade from $103.00 to $98.00 and set an “overweight” rating for the company in a report on Friday, August 6th. Wolfe Research began coverage on shares of Lemonade in a research note on Monday, August 16th. They issued an “underperform” rating and a $53.00 price objective on the stock. Oppenheimer raised their price objective on shares of Lemonade from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Finally, Zacks Investment Research cut shares of Lemonade from a “hold” rating to a “sell” rating in a research note on Tuesday, August 10th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.75.
Shares of NYSE LMND opened at $69.72 on Friday. The company’s fifty day moving average is $78.06 and its 200-day moving average is $87.65. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -24.21 and a beta of 1.95. Lemonade, Inc. has a twelve month low of $46.60 and a twelve month high of $188.30.
Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, August 4th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). The firm had revenue of $28.20 million for the quarter, compared to the consensus estimate of $26.80 million. Lemonade had a negative return on equity of 20.19% and a negative net margin of 188.22%. As a group, analysts forecast that Lemonade, Inc. will post -3.77 EPS for the current fiscal year.
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 renters, homeowners, pet, and life insurance products, as well as landlord insurance policies.
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