Sparta 24 Ltd. Sells 63,610 Shares of Lemonade, Inc. $LMND

Sparta 24 Ltd. lessened its holdings in Lemonade, Inc. (NYSE:LMND) by 37.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,728 shares of the company’s stock after selling 63,610 shares during the quarter. Lemonade makes up approximately 7.6% of Sparta 24 Ltd.’s holdings, making the stock its 4th biggest holding. Sparta 24 Ltd. owned about 0.14% of Lemonade worth $6,627,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LMND. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 26,312 shares during the period. Clear Street Group Inc. bought a new stake in shares of Lemonade during the 4th quarter valued at $2,448,000. Pursue Wealth Partners LLC acquired a new position in shares of Lemonade in the 4th quarter valued at $2,814,000. Halter Ferguson Financial Inc. lifted its stake in shares of Lemonade by 4.3% in the 4th quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock valued at $42,769,000 after purchasing an additional 24,957 shares during the period. Finally, Leo Wealth LLC acquired a new position in shares of Lemonade in the 4th quarter valued at $2,699,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Stock Up 4.4%

Shares of LMND stock opened at $67.41 on Friday. Lemonade, Inc. has a 12-month low of $35.70 and a 12-month high of $99.90. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of -36.05 and a beta of 1.79. The firm has a fifty day moving average of $60.26 and a 200-day moving average of $64.73.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. The business had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm’s quarterly revenue was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.86) EPS. Research analysts expect that Lemonade, Inc. will post -1.7 earnings per share for the current year.

Insider Activity

In other news, insider Maya Prosor sold 1,220 shares of Lemonade 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 in the company, valued at $9,973,256.41. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,444 shares of the business’s stock in a transaction that occurred on 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 SEC filing for this sale provides additional information. Insiders sold 10,007 shares of company stock valued at $620,201 over the last 90 days. Corporate insiders own 12.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial decreased their price objective on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Citizens Jmp cut their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Tuesday, April 21st. TD Cowen restated a “hold” rating on shares of Lemonade in a research report on Monday, June 8th. Finally, Keefe, Bruyette & Woods upped their price target on Lemonade from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.78.

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.