Canada Pension Plan Investment Board Makes New Investment in Lemonade, Inc. $LMND

Key Points

• Canada Pension Plan Investment Board acquired 208,300 Lemonade shares worth approximately $13.55 million, representing a 0.27% stake. Institutional investors collectively own 80.30% of the company.
• Lemonade reported quarterly revenue of $294.4 million, up 79.4% year over year, while its adjusted loss of $0.56 per share matched analyst expectations. Analysts project a full-year loss of $1.85 per share.
• LMND opened at $53.11, below its 50- and 200-day moving averages near $59. The stock has a consensus “Hold” rating and an average analyst price target of $64.50, while insiders have sold about $1.2 million in shares over the past three months.

Canada Pension Plan Investment Board purchased a new stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 208,300 shares of the company's stock, valued at approximately $13,550,000. Canada Pension Plan Investment Board owned 0.27% of Lemonade as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in shares of Lemonade by 0.7% in the 4th quarter. AQR Capital Management LLC now owns 21,569 shares of the company's stock valued at $1,535,000 after acquiring an additional 159 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Lemonade by 0.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 32,431 shares of the company's stock valued at $2,308,000 after acquiring an additional 259 shares during the period. CWM LLC grew its position in Lemonade by 14.5% during the 4th quarter. CWM LLC now owns 2,882 shares of the company's stock worth $205,000 after acquiring an additional 364 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company's stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Lemonade by 58.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the company's stock worth $84,000 after purchasing an additional 436 shares during the period. 80.30% of the stock is owned by institutional investors.

Insider Activity at Lemonade

In related news, insider Maya Prosor sold 1,220 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the transaction, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 11,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the transaction, the insider owned 76,942 shares of the company's stock, valued at approximately $4,043,302.10. This represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,007 shares of company stock worth $1,198,251 over the last three months. Insiders own 12.20% of the company's stock.

Lemonade Price Performance

NYSE LMND opened at $53.11 on Friday. Lemonade, Inc. has a 1 year low of $46.16 and a 1 year high of $99.90. The stock has a market capitalization of $4.11 billion, a PE ratio of -29.02 and a beta of 1.84. The business's 50-day moving average is $59.44 and its 200 day moving average is $59.23.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, meeting analysts' consensus estimates of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. During the same quarter in the prior year, the company posted ($0.60) EPS. Lemonade's quarterly revenue was up 79.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Lemonade, Inc. will post -1.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LMND shares. TD Cowen reiterated a "hold" rating on shares of Lemonade in a research report on Monday, June 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Lemonade in a report on Friday, July 17th. UBS Group set a $75.00 target price on shares of Lemonade in a research note on Thursday, May 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Lemonade in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 price target for the company in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $64.50.

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.

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