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

Landscape Capital Management L.L.C. acquired a new stake in shares of Lemonade, Inc. (NYSE:LMND) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 52,977 shares of the company’s stock, valued at approximately $3,446,000. Landscape Capital Management L.L.C. owned about 0.07% of Lemonade as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMND. AQR Capital Management LLC lifted 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 valued at $958,000 after purchasing an additional 15,779 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Lemonade by 255.2% during the first quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock worth $10,370,000 after buying an additional 237,044 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Lemonade in the first quarter valued at approximately $35,000. Goldman Sachs Group Inc. raised 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 during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Lemonade during the second quarter valued at approximately $307,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insider Buying and Selling at Lemonade

In other news, insider John Sheldon Peters sold 11,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the sale, the insider owned 76,942 shares of the company’s stock, valued at $4,043,302.10. This represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maya Prosor sold 1,220 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares of the company’s stock, valued at $9,973,256.41. The trade was a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 21,007 shares of company stock worth $1,198,251 over the last ninety days. Corporate insiders own 12.20% of the company’s stock.

Analyst Ratings Changes

LMND has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a report on Thursday, July 30th. TD Cowen reissued a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Piper Sandler decreased their price objective on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded Lemonade from a “hold” rating to a “sell” rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.50.

Lemonade Price Performance

NYSE LMND opened at $53.29 on Friday. The company has a market cap of $4.12 billion, a P/E ratio of -29.12 and a beta of 1.84. Lemonade, Inc. has a 12 month low of $46.16 and a 12 month high of $99.90. The company has a 50-day moving average of $60.00 and a 200-day moving average of $60.00.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.56). Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The business had revenue of $294.40 million for the quarter, compared to analysts’ expectations of $291.01 million. During the same period last year, the company earned ($0.60) earnings per share. The company’s quarterly revenue was up 79.4% on a year-over-year basis. As a group, equities research analysts anticipate that Lemonade, Inc. will post -1.85 EPS for the current year.

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.