SG Americas Securities LLC Sells 18,517 Shares of Lemonade, Inc. $LMND

Key Points

• SG Americas Securities cut its Lemonade position by 58.5% in the first quarter, selling 18,517 shares and leaving it with 13,135 shares worth about $823,000.
• Insiders also sold stock: John Sheldon Peters and Maya Prosor both reduced holdings in June, and insiders have sold 6,563 shares over the past three months. Insiders still own 12.50% of the company.
• Lemonade’s recent results beat expectations, with Q1 EPS of -$0.47 versus the -$0.58 consensus and revenue of $258 million, up 70.6% year over year. Despite that, analysts still have a cautious stance overall, with an average rating of Hold and an average price target of $64.89.

SG Americas Securities LLC lessened its holdings in Lemonade, Inc. (NYSE:LMND - Free Report) by 58.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,135 shares of the company's stock after selling 18,517 shares during the quarter. SG Americas Securities LLC's holdings in Lemonade were worth $823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LMND. AQR Capital Management LLC grew its stake in shares of Lemonade by 107.3% during the first quarter. AQR Capital Management LLC now owns 30,490 shares of the company's stock valued at $958,000 after buying an additional 15,779 shares during the last quarter. Millennium Management LLC boosted its holdings in 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. NewEdge Advisors LLC purchased a new stake in Lemonade during the 1st quarter valued at about $35,000. Goldman Sachs Group Inc. grew its position in Lemonade by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock worth $19,244,000 after acquiring an additional 41,759 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in Lemonade during the 2nd quarter worth approximately $307,000. 80.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider John Sheldon Peters sold 3,608 shares of Lemonade stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $52.94, for a total transaction of $191,007.52. Following the sale, the insider owned 81,386 shares of the company's stock, valued at approximately $4,308,574.84. The trade was a 4.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $64,867.40. Following the transaction, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 6,563 shares of company stock worth $348,125. Insiders own 12.50% of the company's stock.

Lemonade Stock Performance

NYSE LMND opened at $71.53 on Monday. The stock has a market cap of $5.50 billion, a P/E ratio of -38.25 and a beta of 1.79. Lemonade, Inc. has a fifty-two week low of $35.70 and a fifty-two week high of $99.90. The stock has a 50 day simple moving average of $58.06 and a two-hundred day simple moving average of $65.29.

Lemonade (NYSE:LMND - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The firm had revenue of $258.00 million for the quarter, compared to analysts' expectations of $251.51 million. During the same period in the previous year, the firm earned ($0.86) earnings per share. The business's revenue was up 70.6% compared to the same quarter last year. Sell-side analysts predict that Lemonade, Inc. will post -1.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LMND. Cantor Fitzgerald reissued an "overweight" rating on shares of Lemonade in a research note on Tuesday, May 26th. Citizens Jmp decreased their target price on shares of Lemonade from $85.00 to $80.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 30th. Morgan Stanley lowered their price target on shares of Lemonade from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, May 21st. UBS Group set a $75.00 price target on shares of Lemonade in a research report on Thursday, May 21st. Finally, Truist Financial cut their price target on shares of Lemonade from $98.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lemonade presently has an average rating of "Hold" and an average price target of $64.89.

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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