Maverick Capital Ltd. Decreases Stock Holdings in Lemonade, Inc. $LMND

Maverick Capital Ltd. reduced its position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 82.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,970 shares of the company's stock after selling 57,894 shares during the quarter. Maverick Capital Ltd.'s holdings in Lemonade were worth $750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMND. Quantinno Capital Management LP increased its position in Lemonade by 74.9% in the first quarter. Quantinno Capital Management LP now owns 15,076 shares of the company's stock worth $945,000 after purchasing an additional 6,457 shares during the last quarter. Lido Advisors LLC bought a new position in Lemonade during the first quarter valued at $1,318,000. State of Wyoming purchased a new position in shares of Lemonade in the 1st quarter worth $42,000. Ascent Wealth Partners LLC grew its stake in shares of Lemonade by 20.8% in the 1st quarter. Ascent Wealth Partners LLC now owns 4,775 shares of the company's stock worth $299,000 after buying an additional 823 shares in the last quarter. Finally, NFSG Corp increased its holdings in shares of Lemonade by 456.8% in the 1st quarter. NFSG Corp now owns 3,257 shares of the company's stock worth $204,000 after buying an additional 2,672 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John Sheldon Peters sold 3,608 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52. Following the transaction, the insider owned 81,386 shares of the company's stock, valued at approximately $4,308,574.84. This represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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. Also, insider Maya Prosor sold 1,220 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares in the company, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 10,007 shares of company stock worth $620,201. Insiders own 12.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LMND. TD Cowen reaffirmed a "hold" rating on shares of Lemonade in a report on Monday, June 8th. Piper Sandler boosted their price objective on Lemonade from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Truist Financial reduced their price objective on Lemonade from $98.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Citizens Jmp decreased their price objective on Lemonade from $85.00 to $80.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Lemonade in a research note on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $66.78.

Lemonade Trading Down 0.1%

LMND stock opened at $61.95 on Wednesday. The stock has a market cap of $4.76 billion, a PE ratio of -33.13 and a beta of 1.79. Lemonade, Inc. has a 12 month low of $35.70 and a 12 month high of $99.90. The company has a 50-day moving average price of $61.61 and a 200 day moving average price of $64.10.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 70.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.86) EPS. Sell-side analysts forecast that Lemonade, Inc. will post -1.7 EPS for the current year.

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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