X Square Capital LLC Acquires Shares of 17,333 Lemonade, Inc. $LMND

X Square Capital LLC acquired a new position in shares of Lemonade, Inc. (NYSE:LMND) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,333 shares of the company’s stock, valued at approximately $1,128,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Lemonade during the fourth quarter worth about $33,000. Torren Management LLC acquired a new position in Lemonade in the fourth quarter worth about $35,000. Strive Financial Group LLC acquired a new position in Lemonade in the fourth quarter worth about $38,000. Finally, State of Wyoming bought a new stake in Lemonade in the first quarter valued at about $42,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Stock Up 5.1%

Shares of NYSE:LMND opened at $53.29 on Friday. Lemonade, Inc. has a fifty-two week low of $46.16 and a fifty-two week high of $99.90. The firm has a 50-day simple moving average of $60.00 and a 200 day simple moving average of $60.00. The company has a market cap of $4.12 billion, a PE ratio of -29.12 and a beta of 1.84.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share 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 firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same quarter in the prior year, the business earned ($0.60) earnings per share. Lemonade’s quarterly revenue was up 79.4% on a year-over-year basis. As a group, research analysts forecast that Lemonade, Inc. will post -1.85 EPS for the current fiscal year.

Analysts Set New Price Targets

LMND has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Wall Street Zen lowered Lemonade from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley lowered their price target on Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler dropped their price target on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Lemonade presently has an average rating of “Hold” and an average target price of $64.50.

Insider Activity at Lemonade

In other news, insider John Sheldon Peters sold 11,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the sale, the insider directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. This represents a 12.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares in the company, valued at approximately $9,973,256.41. This trade represents 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 have sold 21,007 shares of company stock valued at $1,198,251 over the last ninety days. Corporate insiders own 12.20% of the company’s stock.

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.