71,637 Shares in Lemonade, Inc. $LMND Acquired by PDT Partners LLC

PDT Partners LLC purchased a new position in Lemonade, Inc. (NYSE:LMND) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 71,637 shares of the company’s stock, valued at approximately $4,660,000.

Other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Lemonade by 8,080.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Lemonade during the 4th quarter valued at $33,000. Torren Management LLC acquired a new stake in Lemonade during the 4th quarter valued at $35,000. NewEdge Advisors LLC purchased a new stake in Lemonade during the 1st quarter worth $35,000. Finally, Strive Financial Group LLC acquired a new position in Lemonade in the 4th quarter worth $38,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Price Performance

Shares of LMND stock opened at $54.42 on Wednesday. The firm has a fifty day moving average of $59.73 and a two-hundred day moving average of $59.51. The firm has a market cap of $4.21 billion, a P/E ratio of -29.74 and a beta of 1.84. Lemonade, Inc. has a 1-year low of $46.16 and a 1-year high of $99.90.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56). The company had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business’s revenue was up 79.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.60) EPS. On average, sell-side analysts expect that Lemonade, Inc. will post -1.85 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Sheldon Peters sold 11,000 shares of the firm’s stock in a transaction dated 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 directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. This trade represents a 12.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction dated 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 approximately $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 21,007 shares of company stock valued at $1,198,251. 12.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research note on Thursday, July 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Piper Sandler lowered their price objective on Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.50.

Lemonade 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.