Parallax Volatility Advisers L.P. Makes New Investment in Lemonade, Inc. $LMND

Parallax Volatility Advisers L.P. purchased a new stake in shares of Lemonade, Inc. (NYSE:LMND) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,171 shares of the company’s stock, valued at approximately $1,637,000.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Lemonade by 107.3% during the first quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock valued at $958,000 after buying an additional 15,779 shares during the period. Millennium Management LLC grew its position in shares of Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after acquiring an additional 237,044 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Lemonade in the 1st quarter worth $35,000. Goldman Sachs Group Inc. raised its holdings in Lemonade by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock worth $19,244,000 after purchasing an additional 41,759 shares during the period. Finally, Prudential Financial Inc. purchased a new position in Lemonade during the second quarter valued at $307,000. Institutional investors own 80.30% of the company’s stock.

Insider Transactions at Lemonade

In other news, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 187,573 shares in the company, 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 document filed with the SEC, which is available at 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 Lemonade stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the sale, the insider directly owned 76,942 shares in the company, valued at $4,043,302.10. This trade represents a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,007 shares of company stock valued at $1,198,251. Company insiders own 12.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Piper Sandler reduced their target price on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. TD Cowen restated a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Wall Street Zen lowered shares of Lemonade from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, UBS Group set a $75.00 price objective on shares of Lemonade in a research note on Thursday, May 21st. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.50.

Lemonade Price Performance

LMND stock opened at $53.73 on Thursday. Lemonade, Inc. has a 1-year low of $46.16 and a 1-year high of $99.90. The business has a 50 day simple moving average of $59.66 and a two-hundred day simple moving average of $59.41. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of -29.36 and a beta of 1.84.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.56). The firm had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. Lemonade’s revenue for the quarter was up 79.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.60) earnings per share. Sell-side analysts anticipate that Lemonade, Inc. will post -1.85 EPS for the current fiscal 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.