Virtu Financial LLC Buys 18,929 Shares of Lemonade, Inc. $LMND

Key Points

• Virtu Financial LLC increased its stake in Lemonade by 72.2% in the fourth quarter, buying 18,929 additional shares and bringing its total holding to 45,145 shares worth about $3.21 million.
• Institutional ownership in Lemonade remains high at 80.30%, with several major funds such as Vanguard, JPMorgan Chase, and Price T Rowe also raising their positions recently.
• Insiders have been selling shares: Maya Prosor and John Sheldon Peters both sold stock in June, and the company’s latest quarterly results showed revenue growth of 70.6% while still posting a narrower-than-expected loss.

Virtu Financial LLC grew its stake in Lemonade, Inc. (NYSE:LMND - Free Report) by 72.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,145 shares of the company's stock after purchasing an additional 18,929 shares during the period. Virtu Financial LLC owned about 0.06% of Lemonade worth $3,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake 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 buying an additional 26,312 shares during the period. JPMorgan Chase & Co. increased its stake in Lemonade by 30.8% during the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company's stock valued at $187,685,000 after acquiring an additional 825,522 shares during the period. Price T Rowe Associates Inc. MD increased its stake in 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 acquiring an additional 965,321 shares during the period. Geode Capital Management LLC increased its stake 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 acquiring an additional 67,562 shares during the period. Finally, BIT Capital GmbH raised its holdings in Lemonade by 69.3% in the 3rd quarter. BIT Capital GmbH now owns 1,254,345 shares of the company's stock valued at $67,145,000 after acquiring an additional 513,424 shares in the last quarter. Institutional investors own 80.30% of the company's stock.

Insiders Place Their Bets

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the 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 sale, the insider owned 187,573 shares of the company's stock, valued at $9,973,256.41. This represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52. Following the sale, the insider directly owned 81,386 shares in the company, valued at approximately $4,308,574.84. This represents a 4.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 90 days, insiders sold 6,563 shares of company stock valued at $348,125. 14.70% of the stock is currently owned by corporate insiders.

Lemonade Price Performance

NYSE LMND opened at $59.09 on Friday. The firm has a market cap of $4.54 billion, a PE ratio of -31.60 and a beta of 1.83. Lemonade, Inc. has a one year low of $35.70 and a one year high of $99.90. The stock's 50 day simple moving average is $58.27 and its 200 day simple moving average is $66.43.

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, beating the consensus estimate of ($0.58) by $0.11. The firm had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The business's revenue for the quarter was up 70.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.86) EPS. As a group, equities analysts expect that Lemonade, Inc. will post -1.71 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen reiterated a "hold" rating on shares of Lemonade in a research report on Monday, June 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Lemonade in a research report on Tuesday, April 21st. UBS Group set a $75.00 target price on Lemonade in a research note on Thursday, May 21st. Piper Sandler reduced their target price on Lemonade from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Lemonade in a research note on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $64.89.

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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