Lido Advisors LLC Invests $1.32 Million in Lemonade, Inc. $LMND

Lido Advisors LLC bought a new position in shares of Lemonade, Inc. (NYSE:LMND) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 21,020 shares of the company’s stock, valued at approximately $1,318,000.

A number of other hedge funds have also added to or reduced their stakes in LMND. AQR Capital Management LLC increased its stake in Lemonade by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock valued at $958,000 after buying an additional 15,779 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock worth $10,370,000 after buying an additional 237,044 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Lemonade in the 1st quarter valued at about $35,000. Goldman Sachs Group Inc. grew its holdings in shares of Lemonade by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after acquiring an additional 41,759 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Lemonade in the second quarter valued at about $307,000. Institutional investors own 80.30% of the company’s stock.

Insider Activity at Lemonade

In other Lemonade 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 value of $64,867.40. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $79.00, for a total value of $272,076.00. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,007 shares of company stock worth $620,201 in the last 90 days. Corporate insiders own 12.20% of the company’s stock.

Analysts Set New Price Targets

LMND has been the topic of several analyst reports. TD Cowen reiterated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Keefe, Bruyette & Woods raised their price target on Lemonade from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Wednesday, July 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Citizens Jmp dropped their price objective on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Finally, Truist Financial cut their price objective on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Lemonade currently has an average rating of “Hold” and a consensus price target of $66.78.

Lemonade Price Performance

Lemonade stock opened at $61.88 on Tuesday. The company’s 50-day moving average is $61.45 and its 200-day moving average is $64.23. The firm has a market capitalization of $4.75 billion, a PE ratio of -33.09 and a beta of 1.79. Lemonade, Inc. has a fifty-two week low of $35.70 and a fifty-two week high of $99.90.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. During the same period last year, the business posted ($0.86) EPS. Lemonade’s revenue was up 70.6% on a year-over-year basis. As a group, analysts expect that Lemonade, Inc. will post -1.7 EPS for the current 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.