Vanguard Group Inc. Boosts Stock Holdings in Lemonade, Inc. $LMND

Key Points

• Vanguard Group boosted its stake in Lemonade by 0.4% to 6,305,453 shares, representing about 8.44% of the company and valued at roughly $448.8 million.
• Other institutions added to positions—AQR (+107%), Millennium (+255%), Goldman Sachs (+7.3%)—leaving hedge funds and institutional investors with about 80.3% ownership, while insiders hold ~12.5% and have recently sold shares.
• Lemonade posted a quarterly revenue gain of 70.6% and an EPS beat (‑$0.47 vs. ‑$0.58) but remains unprofitable; analysts are mixed with a consensus "Hold" and an average target of $64.88.

Vanguard Group Inc. boosted its position in Lemonade, Inc. (NYSE:LMND - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,305,453 shares of the company's stock after purchasing an additional 26,312 shares during the period. Vanguard Group Inc. owned about 8.44% of Lemonade worth $448,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company's stock worth $958,000 after buying an additional 15,779 shares in the last quarter. Millennium Management LLC boosted its stake in shares of 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 buying an additional 237,044 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Lemonade in the first quarter valued at approximately $35,000. Goldman Sachs Group Inc. grew its holdings in Lemonade by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock worth $19,244,000 after acquiring an additional 41,759 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Lemonade during the second quarter worth $307,000. Hedge funds and other institutional investors own 80.30% of the company's stock.

Analyst Ratings Changes

LMND has been the subject of a number of recent analyst reports. Wolfe Research set a $44.00 target price on Lemonade in a report on Tuesday, February 24th. Keefe, Bruyette & Woods increased 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. Morgan Stanley upgraded shares of Lemonade from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $80.00 to $85.00 in a research note on Tuesday, March 17th. Citigroup reissued an "outperform" rating on shares of Lemonade in a report on Friday, January 16th. Finally, Piper Sandler reduced their target price on Lemonade from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $64.88.

Insider Transactions at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of Lemonade stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total value of $187,477.50. Following the completion of the sale, the insider directly owned 76,729 shares of the company's stock, valued at approximately $4,028,272.50. The trade was a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 5,567 shares of company stock worth $287,517 in the last quarter. 12.50% of the stock is currently owned by company insiders.

Lemonade Trading Up 3.9%

Shares of LMND stock opened at $57.18 on Wednesday. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -30.58 and a beta of 1.85. The firm has a 50-day moving average price of $60.07 and a 200 day moving average price of $68.59. Lemonade, Inc. has a twelve month low of $28.71 and a twelve month high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to analysts' expectations of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm's revenue for the quarter was up 70.6% compared to the same quarter last year. During the same period last year, the company earned ($0.86) EPS. As a group, research analysts predict that Lemonade, Inc. will post -1.75 earnings per share for the current year.

Lemonade Company 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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