Lemonade, Inc. $LMND Shares Sold by Halter Ferguson Financial Inc.

Halter Ferguson Financial Inc. lowered its stake in Lemonade, Inc. (NYSE:LMND) by 9.1% in the first quarter, Holdings Channel reports. The fund owned 546,324 shares of the company’s stock after selling 54,539 shares during the quarter. Lemonade accounts for approximately 7.5% of Halter Ferguson Financial Inc.’s investment portfolio, making the stock its 4th largest holding. Halter Ferguson Financial Inc.’s holdings in Lemonade were worth $34,244,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew 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 valued at $29,000 after purchasing an additional 404 shares during the last quarter. Strategic Advocates LLC bought a new position in Lemonade in the 3rd quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. bought a new position in Lemonade in the 4th quarter valued at approximately $33,000. Torren Management LLC acquired a new stake in Lemonade in the fourth quarter valued at approximately $35,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Lemonade during the first quarter worth $35,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Lemonade Price Performance

LMND opened at $78.51 on Tuesday. Lemonade, Inc. has a fifty-two week low of $35.70 and a fifty-two week high of $99.90. The company’s 50 day moving average price is $58.30 and its two-hundred day moving average price is $65.27. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of -41.98 and a beta of 1.79.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on LMND shares. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. TD Cowen restated a “hold” rating on shares of Lemonade in a research report on Monday, June 8th. Truist Financial lowered their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Five equities research 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. According to data from MarketBeat, Lemonade presently has an average rating of “Hold” and an average target price of $64.89.

Insiders Place Their Bets

In other Lemonade 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 directly owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the sale, the insider owned 81,386 shares in the company, valued at $4,308,574.84. This trade represents a 4.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 6,563 shares of company stock valued at $348,125 over the last 90 days. 12.50% of the stock is currently owned by company insiders.

Lemonade Company 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.