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

NewEdge Advisors LLC trimmed its holdings in Lemonade, Inc. (NYSE:LMND) by 60.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,420 shares of the company’s stock after selling 9,696 shares during the period. NewEdge Advisors LLC’s holdings in Lemonade were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Lemonade in the 4th quarter valued at $33,000. Torren Management LLC acquired a new stake in Lemonade during the 4th quarter valued at $35,000. Strive Financial Group LLC acquired a new stake in Lemonade during the 4th quarter valued at $38,000. Finally, State of Wyoming acquired a new stake in Lemonade during the 1st quarter valued at $42,000. 80.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on LMND. UBS Group set a $75.00 price objective on shares of Lemonade in a report on Thursday, May 21st. Citizens Jmp cut their target price on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Wall Street Zen downgraded shares of Lemonade from a “hold” rating to a “sell” rating in a report on Saturday. 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 analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Lemonade has an average rating of “Hold” and a consensus target price of $64.50.

Lemonade Price Performance

Shares of NYSE LMND opened at $53.29 on Friday. The business has a fifty day moving average price of $60.00 and a two-hundred 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 fifty-two week low of $46.16 and a fifty-two week high of $99.90.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) 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 company had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same period in the prior year, the firm posted ($0.60) EPS. Lemonade’s quarterly revenue was up 79.4% on a year-over-year basis. On average, equities analysts expect that Lemonade, Inc. will post -1.85 EPS for the current year.

Insider Activity

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the firm’s 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 transaction, the insider directly owned 187,573 shares of the company’s stock, valued at $9,973,256.41. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 11,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $52.55, for a total transaction of $578,050.00. Following the completion of the transaction, the insider directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. This represents a 12.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,007 shares of company stock valued at $1,198,251 in the last ninety days. 12.20% of the stock is currently 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.