LMND Lemonade, Inc.
Executive Summary
A mixed institutional cluster in LMND for Q3 2024 shows 9 buyers accumulating $23.2M net (led by Citadel, D.E. Shaw, and Trexquant) while 8 sellers reduced holdings by $21.4M (led by Legal & General, Marshall Wace, and First Trust). The buying is dominated by quantitative funds (Citadel, D.E. Shaw, Point72) doubling or adding positions, while the selling is concentrated among traditional asset managers trimming or nearly exiting. This suggests a divergence between quant-driven conviction and discretionary manager caution.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.8M
▲ Buyers (9)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Citadel | ADD | +99.9% | $16.7M | $8.3M |
| D.E. Shaw | ADD | +54.5% | $25.2M | $8.9M |
| Trexquant Investment | DOUBLED | +114.9% | $6.7M | $3.6M |
| Point72 | DOUBLED | +260.1% | $453.0K | $327.0K |
| Group One Trading | ADD | +58.2% | $4.4M | $1.6M |
▼ Sellers (8)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Legal & General Group | NEAR_EXIT | -90.4% | $10.9M | -$9.8M |
| Marshall Wace | TRIM | -51.4% | $14.2M | -$7.3M |
| First Trust Advisors | NEAR_EXIT | -75.3% | $3.8M | -$2.9M |
| Ameriprise Financial | NEAR_EXIT | -85.5% | $1.4M | -$1.2M |
Actionable Insight
The quant-heavy buying vs traditional-manager selling creates a tug-of-war signal. Monitor upcoming LMND earnings for a catalyst that could resolve this divergence — if the quant thesis (likely momentum or mean-reversion) proves correct, further buying may follow. Conversely, continued selling by discretionary managers could pressure the stock. The 13F data is 45+ days stale; check for recent insider selling ($467K in 30d) as a potential caution flag.
Key Facts
- 9 institutional buyers added $23.2M in new positions, 8 sellers reduced by $21.4M
- Citadel added 505.5K shares (+99.9%), now holding 1.01M shares worth $16.7M
- D.E. Shaw added 539.1K shares (+54.5%), now holding 1.53M shares worth $25.2M
- Marshall Wace trimmed 441.7K shares (-51.4%), exiting $7.3M in value
- Legal & General nearly exited 594.5K shares (-90.4%), reducing $9.8M in value
- First Trust Advisors nearly exited 174.9K shares (-75.3%), reducing $2.9M in value
- Quant funds (Citadel, D.E. Shaw, Point72, Trexquant) dominate the buying side
- Traditional asset managers (Legal & General, Marshall Wace, First Trust) dominate the selling side
Financial Impact
Net institutional buying of $1.8M ($23.2M bought vs $21.4M sold) across 17 tracked funds
Risk Factors
- 13F data is 45+ days stale — positions may have been unwound since quarter-end
- Insider selling of $467K in the past 30 days suggests management caution
- Historical LMND reports show negative T+5 drift (-0.44% avg) despite positive T+20 drift (+2.49% avg), indicating delayed reaction patterns
- Quant funds may be trading on short-term signals that have already expired
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-LMND-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
1d ago
|
Institutional Cluster
| $57.14 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 9, 2026
4d ago
|
Press Release
| $52.94 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 5, 2026
7d ago
|
Insider Cluster
| $51.11 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 5, 2026
7d ago
|
Insider Cluster
| $51.56 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 3, 2026
9d ago
|
144
| $51.57 $51.46 | ▼ −0.21% | ▲ +2.38% | — |
|
May 12, 2026
4w ago
|
Press Release
| $55.14 $52.87 | ▼ −4.12% | ▼ −4.69% | — |
|
May 8, 2026
5w ago
|
Press Release
| $55.01 $55.05 | ▲ +0.07% | ▼ −0.16% | — |
|
May 7, 2026
5w ago
|
Press Release
| $54.43 $55.01 | ▲ +1.07% | ▲ +0.24% | — |
|
Apr 2, 2026
10w ago
|
Press Release
| $61.47 $61.94 | ▲ +0.76% | ▲ +0.29% | — |
|
Mar 3, 2026
14w ago
|
Insider Cluster
| $51.86 $54.77 | ▲ +5.61% | ▲ +4.85% | — |
US Market Status
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