PDT Partners LLC Buys Shares of 71,637 Lemonade, Inc. $LMND

PDT Partners LLC purchased a new position in shares of Lemonade, Inc. (NYSE:LMND) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 71,637 shares of the company’s stock, valued at approximately $4,660,000. PDT Partners LLC owned about 0.09% of Lemonade at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LMND. Vanguard Group Inc. lifted its stake in shares of Lemonade by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock valued at $448,822,000 after buying an additional 26,312 shares during the period. BlackRock Inc. purchased a new stake in Lemonade in the 2nd quarter worth approximately $393,408,000. Price T Rowe Associates Inc. MD raised its holdings in Lemonade by 186.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after acquiring an additional 965,321 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lemonade by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company’s stock valued at $102,400,000 after acquiring an additional 67,562 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Lemonade by 28.1% during the 2nd quarter. Bank of America Corp DE now owns 993,669 shares of the company’s stock worth $43,533,000 after purchasing an additional 217,913 shares during the period. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMND has been the topic of several analyst reports. UBS Group set a $75.00 price objective on Lemonade in a report on Thursday, May 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Citizens Jmp decreased their price target 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. Piper Sandler dropped their price objective on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods raised shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price on the stock in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.50.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 11,000 shares of Lemonade stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total transaction of $578,050.00. Following the transaction, the insider directly owned 76,942 shares of the company’s stock, valued at $4,043,302.10. The trade was a 12.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Maya Prosor sold 1,220 shares of the business’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 transaction of $64,867.40. Following the sale, the insider owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. This represents 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. Insiders sold 21,007 shares of company stock worth $1,198,251 in the last 90 days. 12.20% of the stock is currently owned by insiders.

Lemonade Trading Up 1.1%

LMND stock opened at $54.42 on Wednesday. The company has a market cap of $4.21 billion, a PE ratio of -29.74 and a beta of 1.84. The stock has a 50-day moving average price of $59.73 and a two-hundred day moving average price of $59.51. Lemonade, Inc. has a 12-month low of $46.16 and a 12-month high of $99.90.

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

Lemonade Company 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.