Blue Trust Inc. Boosts Stake in Lemonade, Inc. (NYSE:LMND)

Blue Trust Inc. boosted its stake in Lemonade, Inc. (NYSE:LMND) by 220.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,733 shares of the company’s stock after buying an additional 1,879 shares during the quarter. Blue Trust Inc.’s holdings in Lemonade were worth $45,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in Lemonade in the 2nd quarter valued at approximately $14,181,000. General Equity Holdings LP purchased a new position in shares of Lemonade during the 2nd quarter worth $5,198,000. GSA Capital Partners LLP purchased a new position in shares of Lemonade during the 1st quarter worth $3,100,000. Millennium Management LLC lifted its stake in shares of Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after purchasing an additional 131,784 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Lemonade by 8.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock worth $1,853,000 after purchasing an additional 9,107 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Up 1.6 %

LMND stock opened at $24.15 on Friday. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -7.94 and a beta of 1.77. The business has a fifty day simple moving average of $18.11 and a 200-day simple moving average of $17.69. Lemonade, Inc. has a 52 week low of $13.16 and a 52 week high of $25.98.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 31.86% and a negative net margin of 43.51%. The business had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same period in the prior year, the firm posted ($0.88) EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts expect that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LMND has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday. Jefferies Financial Group reduced their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Lemonade has an average rating of “Hold” and a consensus target price of $21.33.

Insider Activity at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares in the company, valued at approximately $4,953,108.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.50% of the stock is owned by insiders.

Lemonade Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include 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.