Halter Ferguson Financial Inc. Sells 175,560 Shares of Lemonade, Inc. $LMND

Key Points

• Halter Ferguson Financial reduced its Lemonade stake by 17.5%, selling 175,560 shares and retaining 830,255 shares worth approximately $37.5 million. Institutional investors collectively own 80.3% of LMND.
• Analyst sentiment remains mixed, with Lemonade receiving an overall “Hold” rating and a consensus price target of $63.50. Recent analysts lowered targets, including Piper Sandler to $51 and Morgan Stanley to $48.
• Lemonade reported quarterly revenue of $294.4 million, up 79.4% year over year, while posting a loss of $0.56 per share. The stock opened at $45.26, near its one-year low of $42.70 and well below its one-year high of $99.90.

Halter Ferguson Financial Inc. lowered its position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 17.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 830,255 shares of the company's stock after selling 175,560 shares during the quarter. Lemonade comprises about 6.5% of Halter Ferguson Financial Inc.'s portfolio, making the stock its 6th largest position. Halter Ferguson Financial Inc. owned about 1.07% of Lemonade worth $37,478,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LMND. BlackRock Inc. acquired a new position in shares of Lemonade in the second quarter valued at about $393,408,000. Bank of America Corp DE raised its stake in shares of Lemonade by 52.1% in the first quarter. Bank of America Corp DE now owns 360,411 shares of the company's stock worth $22,591,000 after purchasing an additional 123,484 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lemonade in the second quarter worth about $13,861,000. Canada Pension Plan Investment Board acquired a new stake in shares of Lemonade during the second quarter worth about $13,550,000. Finally, Man Group plc acquired a new stake in shares of Lemonade during the second quarter worth about $8,864,000. Hedge funds and other institutional investors own 80.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on LMND. Piper Sandler dropped their target price on Lemonade from $75.00 to $51.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Keefe, Bruyette & Woods raised shares of Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 price target for the company in a research report on Thursday, July 30th. Morgan Stanley reduced their price target on shares of Lemonade from $56.00 to $48.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 6th. Wall Street Zen upgraded shares of Lemonade from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Lemonade in a research note on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $63.50.

Insider Activity

In other Lemonade news, insider Maya Prosor sold 1,040 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total value of $56,815.20. Following the completion of the transaction, the insider directly owned 186,533 shares of the company's stock, valued at approximately $10,190,297.79. The trade was a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Peters sold 2,249 shares of the business's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $54.45, for a total value of $122,458.05. Following the completion of the transaction, the insider directly owned 73,834 shares of the company's stock, valued at $4,020,261.30. The trade was a 2.96% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 15,148 shares of company stock worth $804,250. 12.20% of the stock is owned by corporate insiders.

Lemonade Stock Performance

NYSE:LMND opened at $45.26 on Thursday. The firm's fifty day moving average is $48.76 and its two-hundred day moving average is $55.88. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -24.73 and a beta of 1.87. Lemonade, Inc. has a one year low of $42.70 and a one year high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.56). The business had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%. The company's revenue was up 79.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.60) EPS. As a group, equities research analysts predict that Lemonade, Inc. will post -1.83 earnings per share for the current fiscal year.

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers insurance products through digital platforms, including its mobile application and website. The company uses artificial intelligence, automation and data analytics to support policy purchasing, customer service and claims processing.

Lemonade's product offerings include renters, homeowners, car, pet and term life insurance. Coverage and product availability vary by jurisdiction, and some policies are provided through regulated insurance subsidiaries or underwritten in partnership with other insurers.

Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade serves customers in the United States and selected European markets, including Germany, the Netherlands, France and the United Kingdom.

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