Ma Investment Partnership LP Makes New Investment in Lemonade, Inc. $LMND

Key Points

• Ma Investment Partnership LP bought 100,000 Lemonade shares worth approximately $6.5 million, making LMND about 1.2% of its portfolio and giving it a 0.13% ownership stake.
• Institutional investors own 80.3% of Lemonade, with AQR Capital, Millennium Management and Goldman Sachs among firms that increased their holdings; insiders sold 21,007 shares worth about $1.2 million over the past 90 days.
• Lemonade’s quarterly revenue rose 79.4% year over year to $294.4 million, while it posted a loss of $0.56 per share. Analysts have an overall “Hold” rating and an average price target of $64.50, versus a recent share price of $53.73.

Ma Investment Partnership LP bought a new position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $6,505,000. Lemonade makes up approximately 1.2% of Ma Investment Partnership LP's portfolio, making the stock its 11th biggest position. Ma Investment Partnership LP owned 0.13% of Lemonade as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LMND. AQR Capital Management LLC raised its holdings in Lemonade by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company's stock worth $958,000 after purchasing an additional 15,779 shares during the period. Millennium Management LLC grew its holdings in Lemonade by 255.2% in the first quarter. Millennium Management LLC now owns 329,934 shares of the company's stock valued at $10,370,000 after purchasing an additional 237,044 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Lemonade in the first quarter valued at approximately $35,000. Goldman Sachs Group Inc. increased its position in shares of Lemonade by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock valued at $19,244,000 after buying an additional 41,759 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Lemonade during the 2nd quarter worth approximately $307,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 transaction of $64,867.40. Following the completion of the transaction, the insider owned 187,573 shares of the company's stock, valued at $9,973,256.41. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 11,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the transaction, the insider directly owned 76,942 shares of the company's stock, valued at approximately $4,043,302.10. This trade represents a 12.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 21,007 shares of company stock worth $1,198,251. 12.20% of the stock is owned by insiders.

Lemonade Stock Performance

Shares of Lemonade stock opened at $53.73 on Thursday. The stock has a 50 day moving average of $59.66 and a 200 day moving average of $59.41. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -29.36 and a beta of 1.84. Lemonade, Inc. has a fifty-two week low of $46.16 and a fifty-two week high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last posted 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 company had revenue of $294.40 million for the quarter, compared to the consensus estimate of $291.01 million. During the same quarter in the previous year, the business earned ($0.60) earnings per share. The company's revenue for the quarter was up 79.4% on a year-over-year basis. Analysts forecast that Lemonade, Inc. will post -1.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Lemonade from $75.00 to $51.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. UBS Group set a $75.00 price objective on Lemonade in a research note on Thursday, May 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Lemonade in a report on Friday, July 17th. Truist Financial reduced their target price on Lemonade from $98.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Finally, TD Cowen restated a "hold" rating on shares of Lemonade in a research report on Monday, June 8th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $64.50.

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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