Jupiter Topco LLC Makes New $1.89 Million Investment in Lemonade, Inc. $LMND

Key Points

• Jupiter Topco LLC initiated a $1.89 million position in Lemonade during the second quarter, purchasing 29,077 shares. Institutional investors collectively own 80.30% of the company.
• Analyst sentiment remains mixed, with four Buy, four Hold and one Sell rating. Lemonade has a consensus rating of Hold and an average price target of $64.50, while Morgan Stanley recently lowered its target to $56.
• Lemonade’s latest quarterly revenue rose 79.4% year over year to $294.4 million, exceeding estimates, though the company remained unprofitable with a loss of $0.56 per share.

Jupiter Topco LLC purchased a new stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,077 shares of the company's stock, valued at approximately $1,892,000.

A number of other institutional investors have also modified their holdings of LMND. Caitong International Asset Management Co. Ltd grew its position in shares of Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company's stock worth $29,000 after buying an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Lemonade during the fourth quarter valued at approximately $33,000. NewEdge Advisors LLC purchased a new stake in Lemonade during the first quarter valued at approximately $35,000. Strive Financial Group LLC acquired a new stake in Lemonade in the fourth quarter valued at approximately $38,000. Finally, State of Wyoming acquired a new stake in Lemonade in the first quarter valued at approximately $42,000. 80.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on LMND. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Wall Street Zen lowered Lemonade from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Cantor Fitzgerald restated an "overweight" rating on shares of Lemonade in a research note on Tuesday, May 26th. TD Cowen restated a "hold" rating on shares of Lemonade in a research note on Monday, June 8th. Finally, Morgan Stanley decreased their price target on Lemonade from $65.00 to $56.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 19th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $64.50.

Insider Buying and Selling

In other news, insider John Peters sold 11,000 shares of the company's stock in a transaction on Thursday, August 13th. The shares were 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 of the company's stock, valued at $4,043,302.10. This represents a 12.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.20% of the company's stock.

Lemonade Stock Up 3.6%

Shares of NYSE:LMND opened at $55.07 on Friday. Lemonade, Inc. has a 52-week low of $46.16 and a 52-week high of $99.90. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -30.09 and a beta of 1.87. The business has a 50-day moving average price of $59.10 and a 200-day moving average price of $58.75.

Lemonade (NYSE:LMND - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, meeting 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 firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same quarter in the prior year, the firm earned ($0.60) earnings per share. Lemonade's revenue for the quarter was up 79.4% on a year-over-year basis. As a group, equities analysts anticipate that Lemonade, Inc. will post -1.85 EPS for the current fiscal year.

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.

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