Royal Bank of Canada Boosts Stake in Lemonade, Inc. $LMND

Royal Bank of Canada raised its stake in shares of Lemonade, Inc. (NYSE:LMND) by 148.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 31,328 shares of the company’s stock after buying an additional 18,721 shares during the period. Royal Bank of Canada’s holdings in Lemonade were worth $1,964,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LMND. 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 worth $29,000 after acquiring an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Lemonade during the fourth quarter valued at $33,000. Torren Management LLC acquired a new stake in shares of Lemonade during the fourth quarter valued at $35,000. NewEdge Advisors LLC purchased a new stake in Lemonade during the 1st quarter worth about $35,000. Finally, Strive Financial Group LLC purchased a new stake in Lemonade during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Activity at Lemonade

In related news, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares in the company, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the transaction, the insider directly owned 76,942 shares of the company’s stock, valued at $4,043,302.10. This trade represents a 12.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,007 shares of company stock worth $1,198,251 over the last three months. Corporate insiders own 12.20% of the company’s stock.

Lemonade Trading Up 0.2%

Lemonade stock opened at $50.07 on Wednesday. The stock has a fifty day moving average price of $60.30 and a 200 day moving average price of $60.58. Lemonade, Inc. has a 52 week low of $46.16 and a 52 week high of $99.90. The firm has a market capitalization of $3.88 billion, a P/E ratio of -27.36 and a beta of 1.84.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same period last year, the company earned ($0.60) EPS. The firm’s quarterly revenue was up 79.4% on a year-over-year basis. As a group, equities analysts predict that Lemonade, Inc. will post -1.83 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on LMND. UBS Group set a $75.00 target price on shares of Lemonade in a report on Thursday, May 21st. Morgan Stanley reiterated an “equal weight” rating and set a $75.00 price target on shares of Lemonade in a report on Wednesday, July 8th. Citizens Jmp cut their price objective on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. TD Cowen reissued a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $66.88.

Lemonade Company Profile

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.