Baird Financial Group Inc. Acquires Shares of 54,257 Lemonade, Inc. $LMND

Key Points

• Baird Financial Group acquired 54,257 Lemonade shares during the second quarter, valued at approximately $3.53 million. Institutional investors collectively own 80.3% of the company.
• Lemonade shares opened at $49.56, near their 52-week low of $46.16 and below both their 50-day and 200-day moving averages. The stock has a market capitalization of about $3.84 billion and remains unprofitable.
• Lemonade’s latest quarterly revenue rose 79.4% year over year to $294.4 million, while its adjusted earnings loss matched estimates at $0.56 per share. Analysts maintain a consensus “Hold” rating with an average price target of $64.50.

Baird Financial Group Inc. acquired a new position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 54,257 shares of the company's stock, valued at approximately $3,529,000. Baird Financial Group Inc. owned 0.07% of Lemonade as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new stake in Lemonade in the second quarter worth about $30,000. State of Wyoming bought a new position in shares of Lemonade during the first quarter valued at approximately $42,000. Larson Financial Group LLC increased its holdings in Lemonade by 2,181.2% during the fourth quarter. Larson Financial Group LLC now owns 1,574 shares of the company's stock valued at $112,000 after buying an additional 1,505 shares during the period. Global Retirement Partners LLC increased its holdings in Lemonade by 182.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,596 shares of the company's stock valued at $114,000 after buying an additional 1,030 shares during the period. Finally, Nykredit A S bought a new position in Lemonade in the second quarter worth approximately $156,000. Hedge funds and other institutional investors own 80.30% of the company's stock.

Lemonade Stock Down 0.9%

Shares of NYSE LMND opened at $49.56 on Wednesday. The business's 50 day moving average price is $56.11 and its 200 day moving average price is $58.31. The firm has a market cap of $3.84 billion, a P/E ratio of -27.08 and a beta of 1.87. Lemonade, Inc. has a 52 week low of $46.16 and a 52 week high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.56). The company had revenue of $294.40 million during 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%. Lemonade's revenue for the quarter was up 79.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.60) EPS. As a group, research analysts expect that Lemonade, Inc. will post -1.85 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider John Peters sold 2,249 shares of the company's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $54.45, for a total value of $122,458.05. Following the sale, the insider directly owned 73,834 shares of the company's stock, valued at approximately $4,020,261.30. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 1,040 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total value of $56,815.20. Following the sale, the insider directly owned 186,533 shares in the company, valued at $10,190,297.79. This represents a 0.55% 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. Over the last ninety days, insiders sold 18,592 shares of company stock worth $1,076,326. 12.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on LMND. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lemonade in a research note on Friday, July 17th. Morgan Stanley lowered their price target on shares of Lemonade from $65.00 to $56.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 19th. Keefe, Bruyette & Woods upgraded Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 target price on the stock in a research note on Thursday, July 30th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Lemonade in a research report on Tuesday, May 26th. Finally, UBS Group set a $75.00 price target on shares of Lemonade in a research note on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lemonade currently has an average rating of "Hold" and an average price target of $64.50.

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers digital insurance products through its website and mobile applications. Its platform uses automation, artificial intelligence and behavioral economics to streamline policy applications, claims processing and customer service.

The company provides renters, homeowners, pet, term life and automobile insurance. Product availability varies by location, and Lemonade distributes its offerings through regulated insurance entities and licensed partners.

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