Corient Private Wealth LP Takes Position in Lemonade, Inc. $LMND

Corient Private Wealth LP purchased a new stake in shares of Lemonade, Inc. (NYSE:LMND) in the second quarter, Holdings Channel.com reports. The fund purchased 17,210 shares of the company’s stock, valued at approximately $1,119,000.

Several other large investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Lemonade by 8,080.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after buying an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Lemonade during the 4th quarter worth about $33,000. Strive Financial Group LLC acquired a new stake in Lemonade in the 4th quarter valued at about $38,000. State of Wyoming bought a new position in shares of Lemonade in the first quarter worth about $42,000. Finally, Macquarie Group Ltd. bought a new stake in Lemonade in the fourth quarter valued at about $63,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Down 3.3%

Shares of LMND opened at $53.27 on Friday. The business has a 50-day simple moving average of $58.99 and a two-hundred day simple moving average of $58.71. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of -29.11 and a beta of 1.87. Lemonade, Inc. has a 52 week low of $46.16 and a 52 week high of $99.90.

Lemonade (NYSE:LMND) last announced its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. During the same quarter in the previous year, the business earned ($0.60) earnings per share. The company’s revenue for the quarter was up 79.4% compared to the same quarter last year. On average, equities analysts anticipate that Lemonade, Inc. will post -1.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John Peters sold 11,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $52.55, for a total transaction of $578,050.00. Following the completion of the sale, the insider owned 76,942 shares of the company’s stock, valued at approximately $4,043,302.10. This represents a 12.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LMND shares. TD Cowen restated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Morgan Stanley cut their target price on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. Wall Street Zen cut shares of Lemonade from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Finally, Piper Sandler decreased their price target on Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.50.

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.