B. Riley Wealth Management Inc. decreased its holdings in Lemonade, Inc. (NYSE:LMND) by 14.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,651 shares of the company’s stock after selling 600 shares during the period. B. Riley Wealth Management Inc.’s holdings in Lemonade were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of LMND. Thrive Capital Management LLC acquired a new position in shares of Lemonade during the third quarter worth $54,772,000. Commonwealth Equity Services LLC grew its stake in shares of Lemonade by 100.7% during the first quarter. Commonwealth Equity Services LLC now owns 20,234 shares of the company’s stock worth $1,884,000 after purchasing an additional 10,154 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Lemonade by 74.7% during the first quarter. Envestnet Asset Management Inc. now owns 13,419 shares of the company’s stock worth $1,250,000 after purchasing an additional 5,738 shares in the last quarter. M&T Bank Corp grew its stake in shares of Lemonade by 30.4% during the first quarter. M&T Bank Corp now owns 6,272 shares of the company’s stock worth $583,000 after purchasing an additional 1,462 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Lemonade by 149.0% during the first quarter. Rhumbline Advisers now owns 32,165 shares of the company’s stock worth $2,996,000 after purchasing an additional 19,246 shares in the last quarter. Institutional investors and hedge funds own 33.32% of the company’s stock.
A number of brokerages recently commented on LMND. Oppenheimer boosted their target price on shares of Lemonade from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. Piper Sandler reduced their price target on shares of Lemonade from $103.00 to $98.00 and set an “overweight” rating for the company in a research report on Friday, August 6th. Zacks Investment Research cut shares of Lemonade from a “hold” rating to a “sell” rating in a research report on Tuesday, August 10th. Finally, Wolfe Research assumed coverage on shares of Lemonade in a research report on Monday, August 16th. They issued an “underperform” rating and a $53.00 price target for the company. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lemonade presently 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 has a 50-day simple moving average of $78.06 and a 200-day simple moving average of $87.65. Lemonade, Inc. has a one year low of $46.60 and a one year high of $188.30. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -24.21 and a beta of 1.95.
Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, August 4th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). Lemonade had a negative net margin of 188.22% and a negative return on equity of 20.19%. The business had revenue of $28.20 million during the quarter, compared to analysts’ expectations of $26.80 million. On average, equities research analysts forecast that Lemonade, Inc. will post -3.77 earnings per share 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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