Foyston Gordon & Payne Inc Takes $867,000 Position in Lemonade, Inc. $LMND

Foyston Gordon & Payne Inc purchased a new position in shares of Lemonade, Inc. (NYSE:LMND) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,333 shares of the company’s stock, valued at approximately $867,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Lemonade by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock valued at $448,822,000 after purchasing an additional 26,312 shares during the period. BlackRock Inc. bought a new stake in shares of Lemonade in the second quarter valued at approximately $393,408,000. Price T Rowe Associates Inc. MD grew its position in Lemonade by 186.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock worth $105,644,000 after buying an additional 965,321 shares in the last quarter. Geode Capital Management LLC grew its position in Lemonade by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company’s stock worth $102,400,000 after buying an additional 67,562 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Lemonade by 28.1% during the 2nd quarter. Bank of America Corp DE now owns 993,669 shares of the company’s stock worth $43,533,000 after acquiring an additional 217,913 shares during the period. 80.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LMND. Piper Sandler cut their target price on Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Keefe, Bruyette & Woods raised shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price on the stock in a report on Thursday, July 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. UBS Group set a $75.00 target price on Lemonade in a report on Thursday, May 21st. Finally, Wall Street Zen lowered Lemonade from a “hold” rating to a “sell” rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lemonade has an average rating of “Hold” and a consensus target price of $64.50.

Insider Activity

In other news, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the sale, the insider directly owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the sale, the insider owned 76,942 shares in the company, valued at approximately $4,043,302.10. This trade represents a 12.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,007 shares of company stock valued at $1,198,251 over the last quarter. Corporate insiders own 12.20% of the company’s stock.

Lemonade Stock Performance

NYSE LMND opened at $53.29 on Friday. The firm’s fifty day moving average price is $60.00 and its two-hundred day moving average price is $60.00. The stock has a market cap of $4.12 billion, a PE ratio of -29.12 and a beta of 1.84. Lemonade, Inc. has a fifty-two week low of $46.16 and a fifty-two week high of $99.90.

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

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.