Parallax Volatility Advisers L.P. Takes Position in Lemonade, Inc. $LMND

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

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Lemonade in the second quarter worth $393,408,000. Price T Rowe Associates Inc. MD raised its stake in shares of Lemonade by 186.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after acquiring an additional 965,321 shares during the period. Man Group plc bought a new stake in shares of Lemonade in the 4th quarter worth about $25,978,000. Goldman Sachs Group Inc. boosted its stake in shares of Lemonade by 50.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock worth $61,676,000 after purchasing an additional 291,122 shares during the period. Finally, Two Sigma Investments LP grew its holdings in Lemonade by 45.0% during the 3rd quarter. Two Sigma Investments LP now owns 813,062 shares of the company’s stock valued at $43,523,000 after purchasing an additional 252,298 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Down 1.3%

Shares of NYSE LMND opened at $53.73 on Thursday. The business has a fifty day simple moving average of $59.66 and a two-hundred day simple moving average of $59.41. The firm has a market cap of $4.16 billion, a PE ratio of -29.36 and a beta of 1.84. Lemonade, Inc. has a twelve month low of $46.16 and a twelve month high of $99.90.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The firm had revenue of $294.40 million during the quarter, compared to the consensus estimate of $291.01 million. During the same period in the previous year, the company posted ($0.60) earnings per share. The firm’s quarterly revenue was up 79.4% on a year-over-year basis. On average, research analysts expect that Lemonade, Inc. will post -1.85 earnings per share for the current year.

Insider Transactions at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 11,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. The trade was a 12.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider directly owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 21,007 shares of company stock worth $1,198,251. 12.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LMND has been the subject of several analyst reports. Wall Street Zen downgraded shares of Lemonade from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. TD Cowen reissued a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective for the company in a report on Thursday, July 30th. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Finally, Morgan Stanley decreased their price objective on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lemonade presently has a consensus rating of “Hold” and an average price target of $64.50.

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.