Clear Street Group Inc. Acquires New Shares in Lemonade, Inc. $LMND

Clear Street Group Inc. bought a new stake in shares of Lemonade, Inc. (NYSE:LMND) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 34,391 shares of the company’s stock, valued at approximately $2,448,000.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in Lemonade by 8,080.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after buying an additional 404 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Lemonade in the fourth quarter worth about $33,000. Torren Management LLC bought a new position in shares of Lemonade in the fourth quarter worth about $35,000. Strategic Advocates LLC bought a new position in shares of Lemonade in the third quarter worth about $33,000. Finally, Macquarie Group Ltd. bought a new position in shares of Lemonade in the fourth quarter worth about $63,000. 80.30% of the stock is currently owned by institutional investors.

Lemonade Trading Down 0.1%

NYSE LMND opened at $57.42 on Monday. The stock’s 50 day moving average is $58.38 and its two-hundred day moving average is $66.92. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -30.71 and a beta of 1.83. Lemonade, Inc. has a 1-year low of $35.70 and a 1-year high of $99.90.

Lemonade (NYSE:LMND) last announced its earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. The business had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.Lemonade’s revenue was up 70.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.86) EPS. On average, analysts predict that Lemonade, Inc. will post -1.68 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on LMND shares. Morgan Stanley dropped their price objective on Lemonade from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Piper Sandler dropped their price objective on Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Truist Financial decreased their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Citizens Jmp decreased their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Finally, Wolfe Research set a $44.00 target price on Lemonade in a research report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.89.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,608 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52. Following the transaction, the insider owned 81,386 shares of the company’s stock, valued at approximately $4,308,574.84. This represents a 4.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,220 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the transaction, the insider directly owned 187,573 shares in the company, valued at approximately $9,973,256.41. This represents a 0.65% decrease in their position. 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 a total of 6,563 shares of company stock worth $348,125 over the last three months. 12.50% of the stock is owned by company insiders.

About Lemonade

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.