Private Advisor Group LLC Sells 16,664 Shares of Lemonade, Inc. $LMND

Private Advisor Group LLC decreased its position in shares of Lemonade, Inc. (NYSE:LMND) by 73.1% in the first quarter, Holdings Channel reports. The fund owned 6,130 shares of the company’s stock after selling 16,664 shares during the period. Private Advisor Group LLC’s holdings in Lemonade were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Lemonade by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock worth $448,822,000 after purchasing an additional 26,312 shares during the last quarter. Clear Street Group Inc. acquired a new stake in Lemonade in the 4th quarter valued at approximately $2,448,000. Pursue Wealth Partners LLC bought a new position in Lemonade in the 4th quarter worth approximately $2,814,000. Halter Ferguson Financial Inc. lifted its holdings in shares of Lemonade by 4.3% during the fourth quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock worth $42,769,000 after buying an additional 24,957 shares during the last quarter. Finally, Leo Wealth LLC bought a new stake in shares of Lemonade in the fourth quarter valued at approximately $2,699,000. 80.30% of the stock is currently owned by institutional investors.

Lemonade Trading Up 4.4%

LMND opened at $67.41 on Friday. The stock’s 50 day simple moving average is $60.26 and its 200-day simple moving average is $64.73. The stock has a market cap of $5.18 billion, a PE ratio of -36.05 and a beta of 1.79. Lemonade, Inc. has a 1 year low of $35.70 and a 1 year high of $99.90.

Lemonade (NYSE:LMND) last issued its earnings results 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 return on equity of 26.52% and a negative net margin of 16.44%.The firm had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $251.51 million. During the same period last year, the business earned ($0.86) earnings per share. Lemonade’s quarterly revenue was up 70.6% compared to the same quarter last year. Equities analysts forecast that Lemonade, Inc. will post -1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

LMND has been the topic of a number of research reports. Truist Financial dropped their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. TD Cowen restated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Keefe, Bruyette & Woods upped their price objective on shares of Lemonade from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $66.78.

Insider Activity

In related news, insider John Sheldon Peters sold 3,444 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $79.00, for a total value of $272,076.00. Following the completion of the transaction, the insider owned 77,942 shares of the company’s stock, valued at $6,157,418. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $9,973,256.41. This represents a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 10,007 shares of company stock worth $620,201. 12.20% of the stock is owned by company insiders.

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.