PDT Partners LLC Acquires 73,030 Shares of Lemonade, Inc. $LMND

Key Points

• PDT Partners LLC has increased its stake in Lemonade, Inc. by 61.6%, owning approximately 191,621 shares worth around $6.02 million as of the latest SEC filing.
• Insider transactions include John Sheldon Peters and COO Adina Eckstein selling shares, which led to a 5.81% and 2.57% decrease in their ownership stakes, respectively.
• Lemonade reported a 34.5% year-over-year increase in revenue, with quarterly earnings beating estimates at ($0.60) EPS, compared to analyst expectations of ($0.81).

PDT Partners LLC increased its stake in Lemonade, Inc. (NYSE:LMND - Free Report) by 61.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,621 shares of the company's stock after purchasing an additional 73,030 shares during the period. PDT Partners LLC owned 0.26% of Lemonade worth $6,023,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LMND. Vanguard Group Inc. raised its position in shares of Lemonade by 14.9% during the 1st quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company's stock valued at $192,931,000 after acquiring an additional 794,952 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Lemonade in the 4th quarter valued at about $22,066,000. Voloridge Investment Management LLC bought a new position in Lemonade in the 4th quarter valued at about $21,310,000. Two Sigma Advisers LP bought a new position in Lemonade in the 4th quarter valued at about $15,412,000. Finally, Analyst IMS Investment Management Services Ltd. bought a new position in shares of Lemonade during the first quarter worth approximately $9,944,000. Institutional investors own 80.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LMND shares. Piper Sandler reiterated a "neutral" rating and set a $55.00 price target on shares of Lemonade in a research report on Thursday, August 14th. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Lemonade in a report on Tuesday, July 1st. BMO Capital Markets upped their target price on shares of Lemonade from $23.00 to $42.00 and gave the stock an "underperform" rating in a report on Monday, August 18th. Wall Street Zen raised shares of Lemonade from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Lemonade in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, Lemonade has an average rating of "Reduce" and a consensus price target of $40.43.

Insider Buying and Selling

In related news, COO Adina Eckstein sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the transaction, the chief operating officer directly owned 189,653 shares of the company's stock, valued at approximately $8,534,385. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 6,543 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $294,435.00. Following the completion of the transaction, the insider directly owned 106,115 shares of the company's stock, valued at approximately $4,775,175. This trade represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,543 shares of company stock valued at $915,455 over the last three months. Insiders own 14.70% of the company's stock.

Lemonade Price Performance

Shares of Lemonade stock traded down $0.48 on Friday, reaching $50.22. 1,436,743 shares of the company traded hands, compared to its average volume of 2,427,291. Lemonade, Inc. has a 52 week low of $15.27 and a 52 week high of $60.41. The company has a 50 day moving average of $46.67 and a 200 day moving average of $38.03. The firm has a market capitalization of $3.71 billion, a PE ratio of -17.75 and a beta of 2.28.

Lemonade (NYSE:LMND - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.60) earnings per share for the quarter, beating analysts' consensus estimates of ($0.81) by $0.21. Lemonade had a negative net margin of 33.96% and a negative return on equity of 36.12%. The firm had revenue of $164.10 million during the quarter, compared to the consensus estimate of $160.88 million. During the same period in the prior year, the firm earned ($0.81) EPS. The company's revenue was up 34.5% compared to the same quarter last year. Lemonade has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.