Coatue Management LLC Has $47.25 Million Position in Lemonade, Inc. (NYSE:LMND)

Coatue Management LLC reduced its position in shares of Lemonade, Inc. (NYSE:LMND) by 25.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 431,835 shares of the company’s stock after selling 150,271 shares during the quarter. Coatue Management LLC owned 0.70% of Lemonade worth $47,247,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in shares of Lemonade by 9.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,452 shares of the company’s stock worth $131,000 after acquiring an additional 120 shares during the last quarter. Usca Ria LLC increased its stake in shares of Lemonade by 5.7% in the second quarter. Usca Ria LLC now owns 2,800 shares of the company’s stock worth $306,000 after acquiring an additional 150 shares during the last quarter. Mutual Advisors LLC increased its stake in shares of Lemonade by 3.2% in the second quarter. Mutual Advisors LLC now owns 5,010 shares of the company’s stock worth $548,000 after acquiring an additional 154 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Lemonade by 4.9% in the first quarter. Rockefeller Capital Management L.P. now owns 3,362 shares of the company’s stock worth $313,000 after acquiring an additional 156 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Lemonade by 27.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 936 shares of the company’s stock worth $87,000 after acquiring an additional 200 shares during the last quarter. 33.32% of the stock is currently owned by institutional investors.

In related news, insider John Sheldon Peters sold 500 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $78.24, for a total value of $39,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 38.80% of the stock is currently owned by company insiders.

LMND stock traded up $3.15 during mid-day trading on Thursday, reaching $69.02. 26,760 shares of the stock traded hands, compared to its average volume of 1,222,376. Lemonade, Inc. has a 52 week low of $46.60 and a 52 week high of $188.30. The business has a 50-day moving average of $72.11 and a two-hundred day moving average of $84.57. The firm has a market capitalization of $4.25 billion, a PE ratio of -23.85 and a beta of 2.01.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, August 4th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.02). Lemonade had a negative net margin of 188.22% and a negative return on equity of 20.19%. The firm had revenue of $28.20 million for the quarter, compared to the consensus estimate of $26.80 million. Sell-side analysts predict that Lemonade, Inc. will post -3.77 EPS for the current fiscal year.

Several research firms have commented on LMND. Piper Sandler lowered their target price on shares of Lemonade from $103.00 to $98.00 and set an “overweight” rating on the stock in a research report on Friday, August 6th. Wolfe Research began coverage on shares of Lemonade in a research report on Monday, August 16th. They set an “underperform” rating and a $53.00 target price on the stock. Oppenheimer increased their target price on shares of Lemonade from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, August 6th. Finally, Zacks Investment Research downgraded shares of Lemonade from a “hold” rating to a “sell” rating in a research report on Tuesday, August 10th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.75.

About Lemonade

Lemonade, Inc provides various insurance products in the United States and Europe. Its insurance products cover 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. The company also offers renters, homeowners, pet, and life insurance products, as well as landlord insurance policies.

Read More: Technical Analysis

Institutional Ownership by Quarter for Lemonade (NYSE:LMND)

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