SG Americas Securities LLC Sells 18,517 Shares of Lemonade, Inc. $LMND

SG Americas Securities LLC decreased its position in Lemonade, Inc. (NYSE:LMND) by 58.5% in the first quarter, Holdings Channel.com reports. The firm owned 13,135 shares of the company’s stock after selling 18,517 shares during the quarter. SG Americas Securities LLC’s holdings in Lemonade were worth $823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lemonade by 186.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after buying an additional 965,321 shares in the last quarter. Man Group plc purchased a new position in Lemonade during the 4th quarter valued at about $25,978,000. Goldman Sachs Group Inc. grew its holdings in Lemonade by 50.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock worth $61,676,000 after purchasing an additional 291,122 shares during the period. Two Sigma Investments LP increased its stake in shares of Lemonade by 45.0% during the third quarter. Two Sigma Investments LP now owns 813,062 shares of the company’s stock valued at $43,523,000 after purchasing an additional 252,298 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Lemonade by 255.2% during the first quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after purchasing an additional 237,044 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Up 0.0%

Shares of NYSE LMND opened at $71.53 on Monday. The firm has a market cap of $5.50 billion, a P/E ratio of -38.25 and a beta of 1.79. Lemonade, Inc. has a twelve month low of $35.70 and a twelve month high of $99.90. The company has a 50 day moving average of $58.06 and a 200 day moving average of $65.29.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.11. The business had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The company’s revenue was up 70.6% compared to the same quarter last year. During the same period last year, the business posted ($0.86) EPS. As a group, equities analysts expect that Lemonade, Inc. will post -1.71 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In other news, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction that occurred on 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 sale, the insider directly owned 187,573 shares in the company, valued at $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of Lemonade stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52. Following the completion of the sale, the insider owned 81,386 shares of the company’s stock, valued at $4,308,574.84. This represents a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last three months, insiders sold 6,563 shares of company stock valued at $348,125. 12.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Morgan Stanley lowered their price objective on Lemonade from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Truist Financial cut their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. UBS Group set a $75.00 price target on Lemonade in a research report on Thursday, May 21st. Finally, TD Cowen reiterated a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and an average price target of $64.89.

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.