Lido Advisors LLC Makes New Investment in Lemonade, Inc. $LMND

Lido Advisors LLC bought a new position in shares of Lemonade, Inc. (NYSE:LMND) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 21,020 shares of the company’s stock, valued at approximately $1,318,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Lemonade in the fourth quarter valued at approximately $33,000. NewEdge Advisors LLC bought a new stake in Lemonade in the first quarter valued at approximately $35,000. Torren Management LLC acquired a new stake in Lemonade in the fourth quarter worth $35,000. Finally, Strive Financial Group LLC acquired a new stake in Lemonade in the fourth quarter worth $38,000. 80.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LMND. Truist Financial decreased their price target on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Citizens Jmp dropped their price objective 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. TD Cowen reiterated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Finally, UBS Group set a $75.00 price target on Lemonade in a report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, three have assigned 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 an average price target of $66.78.

Lemonade Stock Performance

Shares of LMND opened at $61.88 on Tuesday. The firm has a market cap of $4.75 billion, a P/E ratio of -33.09 and a beta of 1.79. Lemonade, Inc. has a twelve month low of $35.70 and a twelve month high of $99.90. The firm’s 50 day moving average price is $61.45 and its two-hundred day moving average price is $64.23.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.11. The company had revenue of $258.00 million during 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 firm’s revenue was up 70.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.86) earnings per share. On average, sell-side analysts anticipate that Lemonade, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In other news, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was 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 in the company, valued at $4,308,574.84. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the transaction, the insider directly owned 187,573 shares of the company’s stock, valued at $9,973,256.41. This represents 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. In the last quarter, insiders have sold 10,007 shares of company stock valued at $620,201. Corporate insiders own 12.20% of the company’s stock.

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.