20,873 Shares in Lemonade, Inc. $LMND Acquired by Odyssean LLC

Key Points

• Odyssean LLC acquired 20,873 Lemonade shares in the second quarter, valued at approximately $1.36 million. Institutional investors collectively own 80.3% of the company.
• Analyst sentiment is mixed, with Lemonade receiving an average “Hold” rating and a consensus price target of $64.50; Piper Sandler and Morgan Stanley recently lowered their price targets.
• Lemonade reported quarterly revenue of $294.4 million, up 79.4% year over year, while posting a loss of $0.56 per share. The stock opened at $53.27, well below its 52-week high of $99.90.

Odyssean LLC acquired a new stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,873 shares of the company's stock, valued at approximately $1,358,000.

Several other hedge funds also recently bought and sold shares of LMND. Caitong International Asset Management Co. Ltd lifted its position 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 worth $29,000 after purchasing an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Lemonade in the fourth quarter worth about $33,000. Strive Financial Group LLC bought a new position in shares of Lemonade in the fourth quarter worth about $38,000. State of Wyoming purchased a new position in Lemonade in the 1st quarter worth about $42,000. Finally, Macquarie Group Ltd. purchased a new position in Lemonade in the 4th quarter worth about $63,000. Institutional investors own 80.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LMND. Piper Sandler lowered their price objective on shares of Lemonade from $75.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Morgan Stanley reduced their target price on shares of Lemonade from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 19th. Wall Street Zen downgraded shares of Lemonade from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Lemonade in a report on Tuesday, May 26th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lemonade in a report on Friday, July 17th. Four 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $64.50.

Insider Buying and Selling at Lemonade

In related news, insider John Peters sold 11,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the completion of the sale, the insider directly owned 76,942 shares in the company, valued at $4,043,302.10. This represents a 12.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 12.20% of the stock is owned by company insiders.

Lemonade Stock Down 3.3%

Shares of LMND stock opened at $53.27 on Friday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of -29.11 and a beta of 1.87. Lemonade, Inc. has a 52-week low of $46.16 and a 52-week high of $99.90. The company's 50 day moving average is $58.99 and its 200 day moving average is $58.71.

Lemonade (NYSE:LMND - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The company had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. During the same quarter in the prior year, the business earned ($0.60) earnings per share. Lemonade's revenue was up 79.4% on a year-over-year basis. Analysts anticipate 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.

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