Udine Wealth Management Inc. Sells 25,472 Shares of Lemonade, Inc. $LMND

Key Points

• Udine Wealth Management Inc. reduced its shareholding in Lemonade, Inc. by 44.3% in Q2, selling 25,472 shares, and now holds around $1.4 million worth of the stock.
• Several institutional investors have increased their positions in Lemonade, including Vanguard and Millennium Management, with institutional ownership now at 80.30% of the stock.
• Lemonade's shares have recently been volatile, dropping 9.9%, with a current market cap of $3.56 billion and a consensus rating of "Reduce" with a price target of $48.00.

Udine Wealth Management Inc. reduced its position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 44.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,059 shares of the company's stock after selling 25,472 shares during the period. Lemonade accounts for approximately 0.8% of Udine Wealth Management Inc.'s holdings, making the stock its 27th biggest position. Udine Wealth Management Inc.'s holdings in Lemonade were worth $1,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Lemonade by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company's stock worth $192,931,000 after purchasing an additional 794,952 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Lemonade by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock worth $19,244,000 after purchasing an additional 41,759 shares during the last quarter. Halter Ferguson Financial Inc. grew its position in Lemonade by 62.8% in the 1st quarter. Halter Ferguson Financial Inc. now owns 476,764 shares of the company's stock worth $14,985,000 after purchasing an additional 183,974 shares during the last quarter. Millennium Management LLC grew its position in Lemonade by 255.2% in the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company's stock worth $10,370,000 after purchasing an additional 237,044 shares during the last quarter. Finally, Analyst IMS Investment Management Services Ltd. acquired a new stake in Lemonade in the 1st quarter worth $9,944,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Lemonade news, insider John Sheldon Peters sold 2,718 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $50.34, for a total value of $136,824.12. Following the completion of the sale, the insider owned 102,397 shares in the company, valued at approximately $5,154,664.98. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Adina Eckstein sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total transaction of $245,000.00. Following the completion of the sale, the chief operating officer owned 189,653 shares of the company's stock, valued at $9,292,997. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock valued at $396,020 in the last 90 days. Corporate insiders own 14.70% of the company's stock.

Lemonade Stock Down 9.9%

Shares of LMND stock opened at $48.18 on Friday. Lemonade, Inc. has a 12-month low of $16.87 and a 12-month high of $62.00. The company has a market capitalization of $3.56 billion, a P/E ratio of -17.02 and a beta of 2.24. The firm has a 50-day moving average price of $53.61 and a 200 day moving average price of $41.41.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.21. Lemonade had a negative net margin of 33.96% and a negative return on equity of 36.12%. The firm had revenue of $164.10 million during the quarter, compared to the consensus estimate of $160.88 million. During the same period last year, the firm posted ($0.81) EPS. The firm's quarterly revenue was up 34.5% on a year-over-year basis. Lemonade has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Analyst Ratings Changes

LMND has been the topic of several research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Lemonade in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $26.00 price objective (up from $22.00) on shares of Lemonade in a report on Tuesday, July 1st. Piper Sandler reduced their price objective on shares of Lemonade from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday. Wall Street Zen raised shares of Lemonade from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Cantor Fitzgerald raised shares of Lemonade to a "strong-buy" rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Lemonade currently has a consensus rating of "Reduce" and a consensus price target of $48.00.

Lemonade Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.

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