Algert Global LLC Sells 20,690 Shares of Lemonade, Inc. $LMND

Key Points

• Algert Global LLC reduced its Lemonade stake by 76.1% in the second quarter, selling 20,690 shares and retaining 6,500 shares worth approximately $423,000. Institutional investors and hedge funds collectively own 80.3% of LMND.
• Lemonade reported quarterly revenue of $294.4 million, up 79.4% year over year, while its adjusted loss of $0.56 per share matched analyst expectations. The company remains unprofitable, with a negative net margin of 14.19%.
• Analyst sentiment is mixed, with Lemonade carrying a consensus “Hold” rating and an average price target of $64.50. Shares recently opened at $53.11, well below their 12-month high of $99.90.

Algert Global LLC cut its position in Lemonade, Inc. (NYSE:LMND - Free Report) by 76.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,500 shares of the company's stock after selling 20,690 shares during the quarter. Algert Global LLC's holdings in Lemonade were worth $423,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Lemonade by 52.1% during the first quarter. Bank of America Corp DE now owns 360,411 shares of the company's stock valued at $22,591,000 after acquiring an additional 123,484 shares during the last quarter. BlackRock Inc. acquired a new stake in Lemonade during the second quarter worth approximately $393,408,000. Vanguard Group Inc. increased its stake in shares of Lemonade by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company's stock valued at $448,822,000 after acquiring an additional 26,312 shares in the last quarter. Lido Advisors LLC bought a new stake in Lemonade in the first quarter valued at $1,318,000. Finally, Clear Street Group Inc. acquired a new position in Lemonade during the 4th quarter worth approximately $2,448,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $64,867.40. Following the sale, the insider owned 187,573 shares in the company, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 company's stock in a transaction on Thursday, August 13th. The stock was 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 of the company's stock, valued at $4,043,302.10. This represents a 12.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,007 shares of company stock valued at $1,198,251 over the last 90 days. 12.20% of the stock is currently owned by company insiders.

Lemonade Trading Up 0.3%

Shares of LMND stock opened at $53.11 on Monday. The company's fifty day moving average price is $59.44 and its 200-day moving average price is $59.13. The stock has a market cap of $4.11 billion, a PE ratio of -29.02 and a beta of 1.84. Lemonade, Inc. has a 12 month low of $46.16 and a 12 month high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last issued 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 net margin of 14.19% and a negative return on equity of 26.78%. The business had revenue of $294.40 million during the quarter, compared to analysts' expectations of $291.01 million. During the same period in the previous year, the company earned ($0.60) earnings per share. The business's revenue for the quarter was up 79.4% compared to the same quarter last year. On average, sell-side analysts forecast that Lemonade, Inc. will post -1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LMND shares. Piper Sandler cut their price objective on shares of Lemonade from $75.00 to $51.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 price target on the stock in a research report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lemonade in a research note on Friday, July 17th. UBS Group set a $75.00 target price on shares of Lemonade in a research note on Thursday, May 21st. Finally, Wall Street Zen downgraded Lemonade from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $64.50.

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.

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