Lemonade, Inc. $LMND Shares Bought by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Lemonade stake by 4.9% in the fourth quarter, buying 67,562 more shares and ending with 1,438,358 shares worth about $102.4 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding about 80.30% of Lemonade’s stock. Several other firms also added positions, including Vanguard and newer stakes from Jupiter Asset Management and Pursue Wealth Partners.
• Lemonade’s latest quarter beat analyst expectations, posting EPS of -$0.47 versus the expected -$0.58 and revenue of $258 million, up 70.6% year over year. Despite the beat, analysts currently rate the stock a consensus Hold with a price target of $64.89.

Geode Capital Management LLC raised its holdings in Lemonade, Inc. (NYSE:LMND - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,438,358 shares of the company's stock after purchasing an additional 67,562 shares during the period. Geode Capital Management LLC owned about 1.92% of Lemonade worth $102,400,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Lemonade by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company's stock valued at $448,822,000 after purchasing an additional 26,312 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Lemonade in the third quarter valued at approximately $9,060,000. Pursue Wealth Partners LLC acquired a new stake in Lemonade in the fourth quarter valued at approximately $2,814,000. Atika Capital Management LLC acquired a new stake in Lemonade in the third quarter valued at approximately $3,694,000. Finally, Halter Ferguson Financial Inc. grew its holdings in Lemonade by 4.3% in the fourth quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company's stock valued at $42,769,000 after purchasing an additional 24,957 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LMND shares. Citizens Jmp decreased their price target on shares of Lemonade from $85.00 to $80.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 30th. Piper Sandler decreased their price target on shares of Lemonade from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Wolfe Research set a $44.00 price target on shares of Lemonade in a research note on Tuesday, February 24th. Truist Financial decreased their price target on shares of Lemonade from $98.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. 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 research note on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $64.89.

Lemonade Trading Down 0.2%

Shares of Lemonade stock opened at $51.46 on Friday. The firm has a market capitalization of $3.95 billion, a PE ratio of -27.52 and a beta of 1.83. 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 $59.03 and its 200 day moving average price is $67.43.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, beating analysts' consensus estimates 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%. Lemonade's quarterly revenue was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.86) EPS. On average, sell-side analysts predict that Lemonade, Inc. will post -1.69 EPS for the current fiscal year.

Insider Transactions at Lemonade

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares in the company, valued at approximately $9,973,256.41. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 dated Thursday, June 4th. The shares were sold at an average price of $52.94, for a total transaction of $191,007.52. Following the completion of the sale, the insider owned 81,386 shares of the company's stock, valued at approximately $4,308,574.84. The trade was 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. In the last quarter, insiders sold 6,563 shares of company stock valued at $348,125. 14.70% of the stock is owned by insiders.

About Lemonade

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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