Baillie Gifford & Co. Sells 75,610 Shares of Lemonade, Inc. $LMND

Key Points

• Baillie Gifford trimmed its stake in Lemonade by 2.6% in Q4, selling 75,610 shares and leaving it with 2,866,446 shares (about 3.84% of the company) valued at roughly $204.0 million.
• Company insiders sold a total of 150,300 shares (~$14.0 million) in the past three months, including CEO Daniel Schreiber's sale of 9,108 shares, leaving insiders with about 12.5% ownership.
• Lemonade reported strong top-line growth (revenue up 53.3% YoY and EPS beating estimates at -$0.29 vs. -$0.41) but remains unprofitable; the stock has a market cap of $4.16 billion, a 52-week range of $24.73–$99.90, and mixed analyst ratings with an average target of $68.75.

Baillie Gifford & Co. lessened its holdings in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,866,446 shares of the company's stock after selling 75,610 shares during the quarter. Baillie Gifford & Co. owned approximately 3.84% of Lemonade worth $204,034,000 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. JPMorgan Chase & Co. raised its holdings in Lemonade by 30.8% in the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company's stock worth $187,685,000 after purchasing an additional 825,522 shares in the last quarter. BIT Capital GmbH increased its holdings in Lemonade by 69.3% in the 3rd quarter. BIT Capital GmbH now owns 1,254,345 shares of the company's stock worth $67,145,000 after buying an additional 513,424 shares in the last quarter. Halter Ferguson Financial Inc. grew its position in Lemonade by 101.3% in the 3rd quarter. Halter Ferguson Financial Inc. now owns 575,906 shares of the company's stock worth $30,828,000 after purchasing an additional 289,803 shares during the period. Two Sigma Investments LP grew its stake in shares of Lemonade by 45.0% during the 3rd 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 during the period. Finally, Millennium Management LLC grew its position in shares of Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company's stock valued at $10,370,000 after acquiring an additional 237,044 shares during the period. Institutional investors own 80.30% of the company's stock.

Insiders Place Their Bets

In related news, CEO Daniel A. Schreiber sold 9,108 shares of Lemonade stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $99.04, for a total value of $902,056.32. Following the sale, the chief executive officer directly owned 1,514,426 shares in the company, valued at approximately $149,988,751.04. The trade was a 0.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 3,571 shares of Lemonade stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total transaction of $187,477.50. Following the sale, the insider directly owned 76,729 shares in the company, valued at approximately $4,028,272.50. This trade represents a 4.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 150,300 shares of company stock worth $13,996,026 in the last three months. 12.50% of the stock is owned by corporate insiders.

Lemonade Stock Performance

Shares of LMND stock opened at $54.42 on Monday. Lemonade, Inc. has a fifty-two week low of $24.73 and a fifty-two week high of $99.90. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -24.08 and a beta of 2.04. The stock's 50-day simple moving average is $61.47 and its 200-day simple moving average is $67.42.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.12. Lemonade had a negative net margin of 22.43% and a negative return on equity of 31.19%. The firm's quarterly revenue was up 53.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.42) EPS. As a group, equities analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on LMND shares. Cantor Fitzgerald upped their target price on shares of Lemonade from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lemonade in a research note on Thursday, January 22nd. Citigroup reaffirmed an "outperform" rating on shares of Lemonade in a research note on Friday, January 16th. Piper Sandler set a $65.00 price objective on Lemonade in a report on Thursday, February 19th. Finally, Morgan Stanley raised shares of Lemonade from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $80.00 to $85.00 in a research note on Tuesday, March 17th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $68.75.

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.

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