Landscape Capital Management L.L.C. Acquires New Position in Lemonade, Inc. $LMND

Key Points

• Landscape Capital Management opened a new position in Lemonade, buying 78,783 shares valued at about $5.61 million in the fourth quarter, according to its latest 13F filing.
• Insider selling occurred in June, with Maya Prosor and John Sheldon Peters selling shares for tax withholding and a pre-arranged trading plan; insiders sold a total of 6,563 shares worth $348,125 in the last quarter.
• Lemonade reported better-than-expected first-quarter results, posting a smaller loss per share than analysts anticipated and revenue of $258 million, up 70.6% year over year, while analysts currently rate the stock a Hold with an average target price of $64.89.

Landscape Capital Management L.L.C. acquired a new stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 78,783 shares of the company's stock, valued at approximately $5,608,000. Landscape Capital Management L.L.C. owned about 0.11% of Lemonade as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of LMND. Caitong International Asset Management Co. Ltd grew its position 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 valued at $29,000 after purchasing an additional 404 shares during the last quarter. Strategic Advocates LLC purchased a new stake in Lemonade during the 3rd quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Lemonade during the 4th quarter valued at about $33,000. Torren Management LLC purchased a new stake in Lemonade during the 4th quarter valued at about $35,000. Finally, NewEdge Advisors LLC purchased a new stake in Lemonade during the 1st quarter valued at about $35,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lemonade

In other news, insider Maya Prosor sold 1,220 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the transaction, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52. Following the completion of the transaction, the insider owned 81,386 shares in the company, valued at $4,308,574.84. This trade represents a 4.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 6,563 shares of company stock worth $348,125 in the last quarter. Company insiders own 14.70% of the company's stock.

Lemonade Stock Up 0.4%

Shares of NYSE:LMND opened at $57.42 on Friday. The firm's 50 day moving average price is $58.38 and its 200-day moving average price is $66.96. Lemonade, Inc. has a twelve month low of $35.70 and a twelve month high of $99.90. The stock has a market capitalization of $4.41 billion, a PE ratio of -30.71 and a beta of 1.83.

Lemonade (NYSE:LMND - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm had revenue of $258.00 million for the quarter, compared to analysts' expectations of $251.51 million. During the same quarter in the prior year, the business earned ($0.86) EPS. The business's quarterly revenue was up 70.6% on a year-over-year basis. Analysts expect that Lemonade, Inc. will post -1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LMND has been the topic of several recent analyst reports. TD Cowen reissued a "hold" rating on shares of Lemonade in a research report on Monday, June 8th. Truist Financial cut their price objective on shares of Lemonade from $98.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Wolfe Research set a $44.00 price objective on shares of Lemonade in a research report on Tuesday, February 24th. Citizens Jmp cut their price objective on shares of Lemonade from $85.00 to $80.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Lemonade from $40.00 to $44.00 and gave the company an "underperform" rating in a report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $64.89.

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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