SG Americas Securities LLC Purchases 15,510 Shares of Lemonade, Inc. $LMND

SG Americas Securities LLC raised its position in shares of Lemonade, Inc. (NYSE:LMND) by 93.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 32,129 shares of the company’s stock after buying an additional 15,510 shares during the period. SG Americas Securities LLC’s holdings in Lemonade were worth $1,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMND. Analyst IMS Investment Management Services Ltd. lifted its position in Lemonade by 80.7% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock valued at $25,049,000 after acquiring an additional 255,368 shares during the last quarter. Mandatum Life Insurance Co Ltd acquired a new position in shares of Lemonade during the second quarter worth $202,000. Halter Ferguson Financial Inc. lifted its holdings in shares of Lemonade by 101.3% during the 3rd quarter. Halter Ferguson Financial Inc. now owns 575,906 shares of the company’s stock valued at $30,828,000 after purchasing an additional 289,803 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Lemonade by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,328 shares of the company’s stock valued at $7,024,000 after purchasing an additional 6,646 shares during the last quarter. Finally, Titleist Asset Management LLC acquired a new stake in shares of Lemonade in the 2nd quarter worth $203,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Lemonade in a research report on Monday, November 24th. Truist Financial initiated coverage on shares of Lemonade in a research report on Tuesday, January 6th. They issued a “buy” rating and a $98.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Wednesday, October 8th. Citizens Jmp boosted their target price on shares of Lemonade from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Monday, November 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.50.

Insiders Place Their Bets

In other news, Director Debra Schwartz sold 4,200 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.59, for a total value of $351,078.00. Following the sale, the director owned 21,567 shares in the company, valued at $1,802,785.53. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adina Eckstein sold 7,919 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $81.15, for a total value of $642,626.85. Following the sale, the chief operating officer directly owned 188,391 shares in the company, valued at approximately $15,287,929.65. This trade represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 170,725 shares of company stock valued at $13,064,465. Company insiders own 14.70% of the company’s stock.

Lemonade Trading Down 1.3%

Shares of NYSE LMND opened at $80.11 on Friday. Lemonade, Inc. has a 12 month low of $24.31 and a 12 month high of $88.88. The company has a 50 day simple moving average of $76.59 and a two-hundred day simple moving average of $59.67. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of -33.52 and a beta of 1.98.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.21. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. The firm had revenue of $194.50 million for the quarter, compared to analyst estimates of $185.06 million. During the same quarter in the prior year, the business earned ($0.95) earnings per share. The business’s quarterly revenue was up 42.4% compared to the same quarter last year. Analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current year.

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.