Price T Rowe Associates Inc. MD Acquires 3,579 Shares of Lemonade, Inc. (NYSE:LMND)

Price T Rowe Associates Inc. MD boosted its holdings in Lemonade, Inc. (NYSE:LMND) by 13.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 30,573 shares of the company’s stock after buying an additional 3,579 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Lemonade were worth $1,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Avior Wealth Management LLC bought a new position in shares of Lemonade in the fourth quarter worth approximately $40,000. Russell Investments Group Ltd. increased its holdings in shares of Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after buying an additional 867 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Lemonade by 116.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after buying an additional 860 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Lemonade during the 4th quarter worth $67,000. Finally, US Bancorp DE grew its position in Lemonade by 574.5% in the fourth quarter. US Bancorp DE now owns 1,875 shares of the company’s stock worth $69,000 after acquiring an additional 1,597 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Softbank Group Capital Ltd sold 316,122 shares of Lemonade stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $31.14, for a total value of $9,844,039.08. Following the sale, the insider now owns 8,970,683 shares in the company, valued at $279,347,068.62. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Sheldon Peters sold 1,899 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the transaction, the insider now owns 87,609 shares of the company’s stock, valued at $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,385,648 shares of company stock valued at $43,869,091 over the last ninety days. 14.70% of the stock is owned by insiders.

Lemonade Stock Performance

Shares of Lemonade stock opened at $31.07 on Friday. Lemonade, Inc. has a 52-week low of $14.03 and a 52-week high of $53.85. The company’s 50 day moving average price is $30.87 and its 200-day moving average price is $34.22. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -10.22 and a beta of 2.13.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.67) earnings per share. As a group, equities research analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LMND has been the topic of a number of research reports. Morgan Stanley cut Lemonade from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $35.00 to $24.00 in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 22nd. Finally, Piper Sandler reduced their target price on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.17.

Lemonade Profile

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.