Private Advisor Group LLC Has $384,000 Stake in Lemonade, Inc. $LMND

Key Points

• Private Advisor Group LLC cut its Lemonade position by 73.1% in Q1, leaving it with 6,130 shares worth about $384,000.
• Institutional ownership remains heavy, with hedge funds and large investors holding 80.30% of Lemonade’s stock; several firms, including Vanguard, Price T Rowe, and Goldman Sachs, increased their stakes.
• Lemonade reported a better-than-expected quarterly loss and revenue of $258 million, while analysts currently rate the stock Hold on average with a consensus price target of $66.78.

Private Advisor Group LLC trimmed its position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 73.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,130 shares of the company's stock after selling 16,664 shares during the period. Private Advisor Group LLC's holdings in Lemonade were worth $384,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in LMND. Vanguard Group Inc. lifted its holdings in shares of Lemonade by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company's stock valued at $448,822,000 after purchasing an additional 26,312 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Lemonade by 186.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company's stock valued at $105,644,000 after buying an additional 965,321 shares in the last quarter. Geode Capital Management LLC raised its position in Lemonade by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company's stock valued at $102,400,000 after buying an additional 67,562 shares during the period. Bank of America Corp DE raised its position in Lemonade by 28.1% during the second quarter. Bank of America Corp DE now owns 993,669 shares of the company's stock valued at $43,533,000 after buying an additional 217,913 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Lemonade by 50.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company's stock worth $61,676,000 after acquiring an additional 291,122 shares in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Maya Prosor sold 1,220 shares of the business's 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 directly owned 187,573 shares in the company, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 3,444 shares of the business's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $79.00, for a total value of $272,076.00. Following the completion of the sale, the insider owned 77,942 shares of the company's stock, valued at approximately $6,157,418. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 10,007 shares of company stock valued at $620,201. 12.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LMND has been the subject of a number of research reports. Cantor Fitzgerald restated an "overweight" rating on shares of Lemonade in a research report on Tuesday, May 26th. Morgan Stanley reissued an "equal weight" rating and issued a $75.00 price target on shares of Lemonade in a research report on Wednesday, July 8th. Piper Sandler raised their price target on shares of Lemonade from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday. TD Cowen reaffirmed a "hold" rating on shares of Lemonade in a research report on Monday, June 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lemonade in a research note on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $66.78.

Lemonade Trading Up 4.4%

Lemonade stock opened at $67.41 on Friday. Lemonade, Inc. has a 1-year low of $35.70 and a 1-year high of $99.90. The firm's fifty day simple moving average is $60.26 and its 200-day simple moving average is $64.73. The company has a market capitalization of $5.18 billion, a P/E ratio of -36.05 and a beta of 1.79.

Lemonade (NYSE:LMND - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.58) by $0.11. The firm had revenue of $258.00 million during the quarter, compared to analysts' expectations of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. Lemonade'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) earnings per share. On average, equities research analysts predict that Lemonade, Inc. will post -1.7 earnings per share 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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