Lemonade, Inc. $LMND Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Lemonade, Inc. (NYSE:LMND) by 4.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,438,358 shares of the company’s stock after acquiring an additional 67,562 shares during the quarter. Geode Capital Management LLC’s holdings in Lemonade were worth $102,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LMND. AQR Capital Management LLC increased its holdings in shares of 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 buying an additional 15,779 shares during the last quarter. Millennium Management LLC increased its holdings 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 acquired a new stake in shares of Lemonade during the 1st quarter worth approximately $35,000. Goldman Sachs Group Inc. increased its holdings in shares of Lemonade by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock worth $19,244,000 after buying an additional 41,759 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Lemonade during the 2nd quarter worth approximately $307,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Stock Performance

Lemonade stock opened at $51.46 on Friday. The company’s 50 day simple moving average is $59.03 and its 200-day simple moving average is $67.43. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -27.52 and a beta of 1.83. Lemonade, Inc. has a 1 year low of $35.70 and a 1 year high of $99.90.

Lemonade (NYSE:LMND) last released its quarterly 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 business had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The business’s revenue was up 70.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.86) EPS. Equities analysts expect that Lemonade, Inc. will post -1.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LMND shares. Piper Sandler cut their price target on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Keefe, Bruyette & Woods raised their price target on shares of Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Tuesday, April 21st. Morgan Stanley cut their price target on shares of Lemonade from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Finally, UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.89.

Insider Buying and Selling

In other news, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 81,386 shares of the company’s stock, valued at approximately $4,308,574.84. The trade was a 4.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the business’s stock in a transaction that occurred 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 directly owned 187,573 shares in the company, valued at $9,973,256.41. This trade represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,563 shares of company stock worth $348,125 over the last three months. Insiders own 14.70% of the company’s stock.

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.