NewEdge Advisors LLC Sells 9,696 Shares of Lemonade, Inc. $LMND

NewEdge Advisors LLC decreased its position in Lemonade, Inc. (NYSE:LMND) by 60.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,420 shares of the company’s stock after selling 9,696 shares during the quarter. NewEdge Advisors LLC’s holdings in Lemonade were worth $402,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LMND. Bank of America Corp DE grew its holdings in shares of Lemonade by 52.1% during the first quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock worth $22,591,000 after buying an additional 123,484 shares in the last quarter. Vanguard Group Inc. lifted its stake in Lemonade by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock valued at $448,822,000 after acquiring an additional 26,312 shares in the last quarter. Lido Advisors LLC bought a new stake in Lemonade in the 1st quarter valued at approximately $1,318,000. Clear Street Group Inc. acquired a new position in Lemonade during the 4th quarter worth approximately $2,448,000. Finally, Halter Ferguson Financial Inc. boosted its position in Lemonade by 4.3% during the 4th quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock worth $42,769,000 after acquiring an additional 24,957 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

Lemonade Stock Performance

Shares of NYSE LMND opened at $53.29 on Friday. The stock has a 50 day moving average price of $60.00 and a 200 day moving average price of $60.00. The stock has a market capitalization of $4.12 billion, a PE ratio of -29.12 and a beta of 1.84. Lemonade, Inc. has a 52 week low of $46.16 and a 52 week high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings results 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 return on equity of 26.78% and a negative net margin of 14.19%.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 previous year, the firm earned ($0.60) EPS. The business’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 year.

Analyst Ratings Changes

A number of analysts have recently issued reports on LMND shares. UBS Group set a $75.00 price objective on shares of Lemonade in a report on Thursday, May 21st. Citizens Jmp reduced their target price on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Piper Sandler decreased their target price on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods upgraded shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lemonade has a consensus rating of “Hold” and an average target price of $64.50.

Insider Buying and Selling at Lemonade

In related news, insider John Sheldon Peters sold 11,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the transaction, the insider directly owned 76,942 shares of the company’s stock, valued at approximately $4,043,302.10. This trade represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the transaction, the insider 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. Insiders sold 21,007 shares of company stock valued at $1,198,251 over the last three months. 12.20% of the stock is owned by company insiders.

About Lemonade

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.