Lemonade, Inc. $LMND Shares Purchased by Royal Bank of Canada

Royal Bank of Canada boosted its position in Lemonade, Inc. (NYSE:LMND) by 148.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Lemonade by 9.3% in the first quarter. The Manufacturers Life Insurance Company now owns 35,439 shares of the company’s stock valued at $2,221,000 after acquiring an additional 3,008 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Lemonade by 74.9% during the first quarter. Quantinno Capital Management LP now owns 15,076 shares of the company’s stock worth $945,000 after acquiring an additional 6,457 shares during the period. Lido Advisors LLC purchased a new position in Lemonade during the first quarter worth about $1,318,000. State of Wyoming purchased a new position in Lemonade during the first quarter worth about $42,000. Finally, Ascent Wealth Partners LLC lifted its position in Lemonade by 20.8% in the first quarter. Ascent Wealth Partners LLC now owns 4,775 shares of the company’s stock valued at $299,000 after purchasing an additional 823 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insider Buying and Selling at Lemonade

In related news, insider John Sheldon Peters sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the sale, the insider directly owned 76,942 shares in the company, valued at $4,043,302.10. The trade was a 12.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maya Prosor sold 1,220 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 21,007 shares of company stock worth $1,198,251 in the last three months. 12.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LMND has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a report on Thursday, July 30th. Morgan Stanley reissued an “equal weight” rating and set a $75.00 target price on shares of Lemonade in a research note on Wednesday, July 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Finally, Citizens Jmp dropped their price objective on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $66.88.

Lemonade Price Performance

Shares of NYSE:LMND opened at $50.07 on Wednesday. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -27.36 and a beta of 1.84. The business’s 50 day simple moving average is $60.30 and its 200-day simple moving average is $60.58. Lemonade, Inc. has a 12 month low of $46.16 and a 12 month high of $99.90.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). The firm had revenue of $294.40 million during the quarter, compared to the consensus estimate of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.Lemonade’s quarterly revenue was up 79.4% on a year-over-year basis. During the same period last year, the business posted ($0.60) EPS. On average, equities analysts anticipate that Lemonade, Inc. will post -1.83 earnings per share for the current year.

Lemonade 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.