Asset Management One Co. Ltd. Increases Holdings in Lemonade, Inc. (NYSE:LMND)

Asset Management One Co. Ltd. boosted its stake in shares of Lemonade, Inc. (NYSE:LMND) by 50.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,065 shares of the company’s stock after buying an additional 1,029 shares during the period. Asset Management One Co. Ltd.’s holdings in Lemonade were worth $96,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of LMND. Analyst IMS Investment Management Services Ltd. purchased a new stake in shares of Lemonade during the 1st quarter valued at $9,944,000. Udine Wealth Management Inc. purchased a new stake in shares of Lemonade during the 1st quarter valued at $1,808,000. Fluent Financial LLC purchased a new stake in shares of Lemonade during the 1st quarter valued at $545,000. Rhumbline Advisers lifted its holdings in shares of Lemonade by 2.6% during the 1st quarter. Rhumbline Advisers now owns 77,706 shares of the company’s stock valued at $2,442,000 after purchasing an additional 2,001 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Lemonade by 35,901.8% during the 1st quarter. GAMMA Investing LLC now owns 19,801 shares of the company’s stock valued at $630,000 after purchasing an additional 19,746 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Performance

Shares of LMND opened at $43.75 on Wednesday. The stock has a 50-day moving average of $35.27 and a two-hundred day moving average of $34.40. Lemonade, Inc. has a one year low of $14.90 and a one year high of $53.85. The stock has a market cap of $3.21 billion, a P/E ratio of -14.39 and a beta of 2.20.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. During the same period last year, the firm posted ($0.67) EPS. The company’s revenue was up 27.0% on a year-over-year basis. Analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on LMND shares. Morgan Stanley lowered 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 restated an “underperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Lemonade in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and an average target price of $28.83.

Insider Buying and Selling at Lemonade

In related news, COO Adina Eckstein sold 5,000 shares of Lemonade stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the transaction, the chief operating officer directly owned 189,653 shares in the company, valued at approximately $8,534,385. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $32.25, for a total value of $16,125,000.00. Following the completion of the transaction, the insider directly owned 7,498,723 shares of the company’s stock, valued at $241,833,816.75. The trade was a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,509,545 shares of company stock worth $78,775,964. Insiders own 12.50% of the company’s stock.

Lemonade Company 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.