Zurcher Kantonalbank Zurich Cantonalbank Has $236,000 Holdings in Lemonade, Inc. (NYSE:LMND)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Lemonade, Inc. (NYSE:LMND) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,656 shares of the company’s stock after selling 4,019 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lemonade were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LMND. Algert Global LLC boosted its stake in shares of Lemonade by 57.0% during the 3rd quarter. Algert Global LLC now owns 96,058 shares of the company’s stock worth $1,116,000 after acquiring an additional 34,860 shares during the period. Swiss National Bank grew its stake in Lemonade by 1.2% in the 3rd quarter. Swiss National Bank now owns 114,500 shares of the company’s stock valued at $1,330,000 after buying an additional 1,400 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Lemonade during the third quarter worth approximately $704,000. SG Americas Securities LLC boosted its holdings in shares of Lemonade by 32.2% during the fourth quarter. SG Americas Securities LLC now owns 42,634 shares of the company’s stock worth $688,000 after acquiring an additional 10,376 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Lemonade in the fourth quarter valued at approximately $30,000. Institutional investors own 80.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LMND. Morgan Stanley increased their price objective on Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 28th. Piper Sandler increased their target price on Lemonade from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. TD Cowen initiated coverage on shares of Lemonade in a research report on Wednesday, January 10th. They set a “market perform” rating and a $17.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their target price on Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.88.

Lemonade Price Performance

Shares of Lemonade stock opened at $17.94 on Tuesday. Lemonade, Inc. has a fifty-two week low of $10.27 and a fifty-two week high of $24.81. The company’s 50 day moving average price is $16.80 and its two-hundred day moving average price is $16.51. The firm has a market capitalization of $1.26 billion, a P/E ratio of -5.73 and a beta of 1.82.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, April 30th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.14. The firm had revenue of $119.10 million for the quarter, compared to analyst estimates of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.95) EPS. On average, analysts expect that Lemonade, Inc. will post -2.96 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In related news, CFO Timothy E. Bixby acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $16.54 per share, with a total value of $165,400.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at $165,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.50% of the company’s stock.

About Lemonade

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.