Odyssean LLC Invests $1.36 Million in Lemonade, Inc. $LMND

Odyssean LLC bought a new stake in shares of Lemonade, Inc. (NYSE:LMND) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,873 shares of the company’s stock, valued at approximately $1,358,000.

A number of other hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC raised 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 worth $958,000 after acquiring an additional 15,779 shares during the last quarter. Millennium Management LLC lifted its stake in Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after acquiring an additional 237,044 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Lemonade in the 1st quarter valued at $35,000. Goldman Sachs Group Inc. boosted 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 during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Lemonade in the second quarter worth $307,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Stock Performance

Shares of NYSE LMND opened at $53.27 on Friday. The firm has a fifty day moving average of $58.99 and a 200 day moving average of $58.71. The firm has a market cap of $4.12 billion, a PE ratio of -29.11 and a beta of 1.87. Lemonade, Inc. has a one year low of $46.16 and a one year high of $99.90.

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

Analysts Set New Price Targets

LMND has been the topic of several analyst reports. Piper Sandler cut their price target on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Morgan Stanley lowered their target price on Lemonade from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods raised Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price on the stock in a report on Thursday, July 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Lemonade has a consensus rating of “Hold” and a consensus target price of $64.50.

Insiders Place Their Bets

In related news, insider John Peters sold 11,000 shares of Lemonade stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the sale, the insider directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. The trade was a 12.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.20% 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.