Lemonade (LMND)
Digital insurer for renters, home, car, pet, and life coverage across the US and Europe.
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Sells renters, homeowners, car, pet, and term life insurance through a direct digital platform, earning premiums on underwritten policies while placing life coverage with a partner carrier. U.S. operations anchor a single reportable insurance segment that also includes property and liability products across four European markets.
Offers renters, homeowners, car, pet, and term life insurance through apps and the web, using a direct digital platform for quotes, policy administration, underwriting support, and claims. U.S. property and casualty policies are underwritten through its carriers, while term life applications are handed to Legal & General; the same platform supports contents, buildings, and liability cover in Germany, France, the Netherlands, and the UK.
Builds its customer relationship around automated service, data-driven pricing, and cross-selling policies as household needs change. Car pricing can use vehicle telemetry, including distinguishing human-driven from assisted-driving miles in selected markets. Results remain exposed to insurance regulation, catastrophe losses, model accuracy, data privacy and security, and reinsurance availability; all operations are reported as one personal property and casualty segment.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 19, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $75 | Target: $56 |
| Jul 30, 2026 | Keefe, Bruyette & Woods | Upgrade | ||
| Jul 15, 2026 | Piper Sandler | Reiterate | Rating: —Target: $65 | Target: $75 |
| Jul 8, 2026 | Morgan Stanley | Downgrade | Target: $80 | Target: $75 |
| May 21, 2026 | UBS | Target | Target: — | Target: $75 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $559.9M · Total debt $206.4M · Total assets $2.01B · Shareholders' equity $499.5M
- Revenue
- $274.0M
- Operating income
- −$41.8M
- Net income
- −$43.4M
No dividends on record.
| Institutions | 58.94% | 45.61M shares | |
|---|---|---|---|
| 377 holders · as of Jun 30, 2026 | |||
| Insiders | 57.00% | 44.12M shares | |
| 13 holders · as of Sep 8, 2026 | |||
| Strategic holders | 9.19% | 7.11M shares | |
| 1 holder · as of May 14, 2025 | |||
| Adds to | 125.13% | ||
77.40M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 125.13%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Shai Wininger1,2Insiderdirector, officer: President | 21.24% | 15.43M | filed Sep 4, 2026 |
Daniel A. Schreiber3,4Insiderdirector, officer: Chief Executive Officer | 18.84% | 13.75M | filed Mar 20, 2026 |
Alex Bernard ClavelInsider | 15.48% | 11.98M | filed Aug 30, 2022 |
SoftBank Group Capital Ltd5Strategic10 percent owner | 9.19% | 7.11M | filed May 14, 2025 |
BlackRock, Inc.Institution | 7.81% | 6.05M | as of Jun 30, 2026 |
- Shai Wininger's transaction reports restate only vehicles that traded; the 2023 ownership statement (15.43M) plus the 1.01M net shares acquired since is used instead.
- Shai Wininger reports a block also reported by JPMorgan Chase & Co; it is counted once, under JPMorgan Chase & Co.
- Daniel A. Schreiber's transaction reports restate only vehicles that traded; the 2023 ownership statement (13.75M) plus the 838.6K net shares acquired since is used instead.
- Daniel A. Schreiber reports a block also reported by Halter Ferguson Financial Inc.; it is counted once, under Halter Ferguson Financial Inc.
- Reported at 4.80% on Nov 14, 2025, under the 5% line, so no further filing is required.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 3, 2026 | Maya Prosor | officer: Chief Business Officer | −1,040 | $54.63 |
| Sep 4, 2026 | John Sheldon Peters | officer: Chief Insurance Officer | −2,249 | $54.45 |
| Sep 3, 2026 | John Sheldon Peters | officer: Chief Insurance Officer | −859 | $54.63 |
| Sep 3, 2026 | Timothy E. Bixby | officer: Chief Financial Officer | −1,893 | $54.63 |
| Aug 13, 2026 | John Sheldon Peters | officer: Chief Insurance Officer | −11,000 | $52.55 |
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- Root
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- Hippo
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lemonade | $46.83 | −2.15% | $3.68B | — | — | 3.9 | +79.4% |
| Progressive | $206.04 | −2.92% | $123.40B | 10.6 | 12.4 | 1.4 | +5.0% |
| Allstate | $227.87 | −6.17% | $62.52B | 4.8 | 8.1 | 0.9 | −7.2% |
| Travelers | $362.13 | −2.43% | $77.41B | 9.9 | 12.1 | 1.6 | −4.8% |
| Root | $48.60 | −2.37% | $697.9M | 14.8 | 18.9 | 0.4 | +1.7% |
| Trupanion | $23.59 | −5.64% | $1.09B | 47.2 | 35.8 | 0.7 | +11.1% |
| Hippo | $31.07 | −1.46% | $832.1M | 6.8 | 23.9 | 1.6 | +23.4% |
| Median | 10.3 | 15.7 | 1.1 | +3.3% |