Maverick Capital Ltd. Sells 57,894 Shares of Lemonade, Inc. $LMND

Maverick Capital Ltd. trimmed its stake in Lemonade, Inc. (NYSE:LMND) by 82.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,970 shares of the company’s stock after selling 57,894 shares during the period. Maverick Capital Ltd.’s holdings in Lemonade were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. increased its position in shares of Lemonade by 3.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,671 shares of the company’s stock worth $261,000 after acquiring an additional 121 shares during the period. Watershed Private Wealth LLC raised its stake in shares of Lemonade by 1.7% during the fourth quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Lemonade by 0.7% in the fourth quarter. AQR Capital Management LLC now owns 21,569 shares of the company’s stock valued at $1,535,000 after purchasing an additional 159 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lemonade by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company’s stock valued at $600,000 after purchasing an additional 219 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Lemonade by 0.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 32,431 shares of the company’s stock worth $2,308,000 after purchasing an additional 259 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors.

Lemonade Stock Performance

NYSE:LMND opened at $61.95 on Wednesday. Lemonade, Inc. has a fifty-two week low of $35.70 and a fifty-two week high of $99.90. The stock has a market capitalization of $4.76 billion, a P/E ratio of -33.13 and a beta of 1.79. The company’s 50-day simple moving average is $61.61 and its 200-day simple moving average is $64.10.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm had revenue of $258.00 million during the quarter, compared to analyst estimates of $251.51 million. During the same quarter in the previous year, the business posted ($0.86) EPS. Lemonade’s revenue was up 70.6% on a year-over-year basis. On average, research analysts forecast that Lemonade, Inc. will post -1.7 EPS for the current year.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,444 shares of Lemonade stock in a transaction on Monday, July 6th. The shares were sold at an average price of $79.00, for a total value of $272,076.00. Following the transaction, the insider directly owned 77,942 shares of the company’s stock, valued at approximately $6,157,418. The trade was a 4.23% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction 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 transaction, the insider directly owned 187,573 shares in the company, 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. Over the last 90 days, insiders sold 10,007 shares of company stock valued at $620,201. 12.20% of the stock is owned by insiders.

Analyst Ratings Changes

LMND has been the topic of several research reports. TD Cowen restated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Truist Financial dropped their price target on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods raised their price target on Lemonade from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Wednesday, July 8th. Finally, UBS Group set a $75.00 price objective on Lemonade in a report on Thursday, May 21st. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.78.

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.