X Square Capital LLC Cuts Stock Position in Lemonade, Inc. $LMND

X Square Capital LLC cut its holdings in Lemonade, Inc. (NYSE:LMND) by 91.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,333 shares of the company’s stock after selling 195,866 shares during the quarter. X Square Capital LLC’s holdings in Lemonade were worth $1,234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Lemonade in the fourth quarter valued at approximately $33,000. Torren Management LLC purchased a new stake in shares of Lemonade in the fourth quarter valued at approximately $35,000. Strategic Advocates LLC purchased a new stake in shares of Lemonade in the third quarter valued at approximately $33,000. Farther Finance Advisors LLC increased its position in shares of Lemonade by 127.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,024 shares of the company’s stock valued at $73,000 after buying an additional 573 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Lemonade in the first quarter valued at approximately $35,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,608 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $52.94, for a total value of $191,007.52. Following the sale, the insider owned 81,386 shares of the company’s stock, valued at $4,308,574.84. This trade represents a 4.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,220 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of 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 position. 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 a total of 6,563 shares of company stock worth $348,125 in the last ninety days. 12.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on LMND shares. UBS Group set a $75.00 price target on Lemonade in a research note on Thursday, May 21st. Piper Sandler lowered their price target on Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Morgan Stanley lowered their price objective on Lemonade from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Finally, Wolfe Research set a $44.00 price target on Lemonade in a research note on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $64.89.

Lemonade Trading Up 2.7%

LMND opened at $52.83 on Tuesday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -28.25 and a beta of 1.83. The stock’s 50-day moving average price is $58.77 and its 200 day moving average price is $67.31. Lemonade, Inc. has a 12-month low of $35.70 and a 12-month high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to analyst estimates of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.Lemonade’s revenue for the quarter was up 70.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.86) EPS. On average, research analysts forecast that Lemonade, Inc. will post -1.69 earnings per share for the current year.

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.