California State Teachers Retirement System Grows Holdings in Lemonade, Inc. $LMND

California State Teachers Retirement System boosted its position in Lemonade, Inc. (NYSE:LMND) by 22.5% in the first quarter, HoldingsChannel reports. The firm owned 72,887 shares of the company’s stock after buying an additional 13,411 shares during the quarter. California State Teachers Retirement System’s holdings in Lemonade were worth $4,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in Lemonade by 148.5% during the first quarter. Royal Bank of Canada now owns 31,328 shares of the company’s stock worth $1,964,000 after acquiring an additional 18,721 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Lemonade by 9.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 35,439 shares of the company’s stock valued at $2,221,000 after buying an additional 3,008 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Lemonade by 74.9% during the 1st quarter. Quantinno Capital Management LP now owns 15,076 shares of the company’s stock worth $945,000 after acquiring an additional 6,457 shares during the last quarter. Lido Advisors LLC purchased a new position in shares of Lemonade in the 1st quarter worth about $1,318,000. Finally, State of Wyoming bought a new stake in shares of Lemonade in the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Price Performance

Shares of NYSE:LMND opened at $52.77 on Friday. Lemonade, Inc. has a 1 year low of $46.16 and a 1 year high of $99.90. The stock’s fifty day moving average price is $60.62 and its 200-day moving average price is $62.53. The company has a market cap of $4.08 billion, a P/E ratio of -28.83 and a beta of 1.84.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). The firm had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The firm’s quarterly revenue was up 79.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.60) earnings per share. On average, sell-side analysts anticipate that Lemonade, Inc. will post -1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LMND. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Citizens Jmp reduced their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Keefe, Bruyette & Woods raised Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price for the company in a research report on Thursday, July 30th. Finally, UBS Group set a $75.00 target price on Lemonade in a research note on Thursday, May 21st. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.11.

Insider Activity at Lemonade

In other news, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $64,867.40. Following the transaction, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,444 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $79.00, for a total transaction of $272,076.00. Following the sale, the insider directly owned 77,942 shares of the company’s stock, valued at approximately $6,157,418. The trade was a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,007 shares of company stock valued at $620,201 over the last 90 days. 12.20% of the stock is currently owned by company insiders.

Lemonade Company Profile

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.