Edgestream Partners L.P. Invests $814,000 in Lemonade, Inc. $LMND

Edgestream Partners L.P. acquired a new stake in shares of Lemonade, Inc. (NYSE:LMND) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,991 shares of the company’s stock, valued at approximately $814,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC increased its stake in Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after purchasing an additional 15,779 shares in the last quarter. Millennium Management LLC raised its holdings in 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 period. NewEdge Advisors LLC bought a new position in Lemonade in the first quarter valued at approximately $35,000. Goldman Sachs Group Inc. lifted its stake in Lemonade by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after buying an additional 41,759 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Lemonade in the second quarter valued at approximately $307,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Lemonade Stock Performance

NYSE LMND opened at $54.30 on Wednesday. Lemonade, Inc. has a 52 week low of $40.98 and a 52 week high of $99.90. The stock’s 50 day moving average price is $60.94 and its two-hundred day moving average price is $62.99. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of -29.67 and a beta of 1.84.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.56). The company had revenue of $294.40 million for the quarter, compared to the consensus estimate of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.48%. The firm’s revenue was up 79.4% compared to the same quarter last year. During the same period last year, the company earned ($0.60) earnings per share. On average, equities research analysts forecast that Lemonade, Inc. will post -1.75 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research report on Friday, July 17th. Citizens Jmp cut their price objective on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Truist Financial reduced their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Finally, Piper Sandler lowered their target price on Lemonade from $75.00 to $51.00 and set a “neutral” rating 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 two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.11.

Insider Buying and Selling at Lemonade

In related news, insider John Sheldon Peters sold 3,608 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the transaction, 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 this hyperlink. 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 transaction of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares in the company, valued at $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. 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. Insiders have sold 10,007 shares of company stock valued at $620,201 in the last 90 days. 12.20% of the stock is currently owned by corporate insiders.

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.