Clear Street Group Inc. Invests $2.45 Million in Lemonade, Inc. $LMND

Clear Street Group Inc. bought a new stake in Lemonade, Inc. (NYSE:LMND - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 34,391 shares of the company's stock, valued at approximately $2,448,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Lemonade by 37.5% during the fourth quarter. Barclays PLC now owns 118,510 shares of the company's stock valued at $8,436,000 after acquiring an additional 32,345 shares during the period. Blue Jean Financial LLC purchased a new position in Lemonade in the fourth quarter valued at about $2,815,000. Arete Wealth Advisors LLC bought a new stake in shares of Lemonade in the 4th quarter worth about $1,478,000. Maverick Capital Ltd. raised its stake in Lemonade by 13.0% during the fourth quarter. Maverick Capital Ltd. now owns 69,864 shares of the company's stock valued at $4,973,000 after buying an additional 8,015 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Lemonade by 0.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 32,431 shares of the company's stock valued at $2,308,000 after buying an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citizens Jmp dropped their price target 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. Morgan Stanley decreased their price objective on Lemonade from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, May 21st. 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. Finally, Truist Financial decreased their price target on Lemonade from $98.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Lemonade has an average rating of "Hold" and a consensus target price of $64.89.

Insiders Place Their Bets

In related news, insider John Sheldon Peters sold 3,608 shares of Lemonade 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 completion of the sale, the insider owned 81,386 shares of the company's stock, valued at approximately $4,308,574.84. This trade represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Lemonade stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the sale, the insider directly owned 187,573 shares of the company's stock, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 6,563 shares of company stock valued at $348,125. Insiders own 12.50% of the company's stock.

Lemonade Stock Down 0.1%

LMND opened at $57.42 on Monday. The stock has a fifty day moving average of $58.38 and a 200-day moving average of $66.92. The firm has a market capitalization of $4.41 billion, a P/E ratio of -30.71 and a beta of 1.83. Lemonade, Inc. has a 12-month low of $35.70 and a 12-month high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.58) by $0.11. The company had revenue of $258.00 million during the quarter, compared to analyst estimates of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The company's revenue for the quarter was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.86) earnings per share. On average, analysts expect that Lemonade, Inc. will post -1.68 earnings per share for the current fiscal year.

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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