Legacy Capital Group California Inc. Makes New $1.30 Million Investment in Lemonade, Inc. $LMND

Legacy Capital Group California Inc. acquired a new position in shares of Lemonade, Inc. (NYSE:LMND) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 18,280 shares of the company’s stock, valued at approximately $1,301,000.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. boosted its position in Lemonade by 195.9% during the 3rd quarter. Federated Hermes Inc. now owns 157,592 shares of the company’s stock worth $8,436,000 after acquiring an additional 104,342 shares during the period. Analyst IMS Investment Management Services Ltd. boosted its holdings in shares of Lemonade by 8.1% during the third quarter. Analyst IMS Investment Management Services Ltd. now owns 617,878 shares of the company’s stock worth $33,075,000 after purchasing an additional 46,110 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Lemonade during the third quarter valued at approximately $9,060,000. Pursue Wealth Partners LLC purchased a new position in Lemonade during the fourth quarter valued at approximately $2,814,000. Finally, Atika Capital Management LLC acquired a new position in Lemonade in the 3rd quarter valued at approximately $3,694,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Price Performance

Shares of LMND opened at $65.42 on Thursday. The company has a market capitalization of $5.00 billion, a PE ratio of -28.95 and a beta of 2.04. Lemonade, Inc. has a one year low of $27.63 and a one year high of $99.90. The company’s fifty day moving average price is $60.17 and its 200 day moving average price is $68.04.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, February 18th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.12. Lemonade had a negative net margin of 22.43% and a negative return on equity of 31.19%. Lemonade’s quarterly revenue was up 53.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.42) earnings per share. Analysts anticipate that Lemonade, Inc. will post -1.74 earnings per share for the current year.

Analysts Set New Price Targets

LMND has been the topic of a number of research reports. Truist Financial initiated coverage on shares of Lemonade in a research note on Tuesday, January 6th. They issued a “buy” rating and a $98.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 24th. Wolfe Research set a $44.00 price target on Lemonade in a research note on Tuesday, February 24th. Citigroup reiterated an “outperform” rating on shares of Lemonade in a research note on Friday, January 16th. Finally, Cantor Fitzgerald boosted their price target on Lemonade from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.75.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total value of $187,477.50. Following the sale, the insider owned 76,729 shares of the company’s stock, valued at $4,028,272.50. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel A. Schreiber sold 9,108 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $99.04, for a total value of $902,056.32. Following the completion of the sale, the chief executive officer directly owned 1,514,426 shares of the company’s stock, valued at $149,988,751.04. This represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 14,675 shares of company stock valued at $1,189,573. 14.70% of the stock is owned by corporate insiders.

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.