Cherry Creek Investment Advisors Inc. purchased a new stake in shares of Lemonade, Inc. (NYSE:LMND) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,143 shares of the company’s stock, valued at approximately $234,000.
A number of other hedge funds also recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its position in Lemonade by 9.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,452 shares of the company’s stock valued at $131,000 after acquiring an additional 120 shares in the last quarter. Usca Ria LLC raised its position in Lemonade by 5.7% during the second quarter. Usca Ria LLC now owns 2,800 shares of the company’s stock valued at $306,000 after acquiring an additional 150 shares in the last quarter. Mutual Advisors LLC raised its position in Lemonade by 3.2% during the second quarter. Mutual Advisors LLC now owns 5,010 shares of the company’s stock valued at $548,000 after acquiring an additional 154 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Lemonade by 4.9% during the first quarter. Rockefeller Capital Management L.P. now owns 3,362 shares of the company’s stock valued at $313,000 after acquiring an additional 156 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Lemonade by 27.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 936 shares of the company’s stock valued at $87,000 after purchasing an additional 200 shares during the period. Institutional investors own 33.32% of the company’s stock.
In other Lemonade news, insider John Sheldon Peters sold 500 shares of Lemonade stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $78.24, for a total value of $39,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 38.80% of the company’s stock.
Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, August 4th. The company reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.02). The company had revenue of $28.20 million for the quarter, compared to analyst estimates of $26.80 million. Lemonade had a negative return on equity of 20.19% and a negative net margin of 188.22%. As a group, sell-side analysts forecast that Lemonade, Inc. will post -3.77 EPS for the current year.
Several analysts have commented on the company. Oppenheimer raised their price objective on Lemonade from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, August 6th. Zacks Investment Research lowered Lemonade from a “hold” rating to a “sell” rating in a research note on Tuesday, August 10th. Piper Sandler lowered their price target on Lemonade from $103.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, August 6th. Finally, Wolfe Research assumed coverage on Lemonade in a research note on Monday, August 16th. They issued an “underperform” rating and a $53.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned 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.
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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