Illumine Investment Management LLC Sells 8,369 Shares of Lemonade, Inc. $LMND

Illumine Investment Management LLC trimmed its position in Lemonade, Inc. (NYSE:LMND) by 27.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,415 shares of the company’s stock after selling 8,369 shares during the period. Illumine Investment Management LLC’s holdings in Lemonade were worth $1,405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of LMND. TD Waterhouse Canada Inc. grew its holdings in shares of Lemonade by 3.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,671 shares of the company’s stock worth $261,000 after buying an additional 121 shares in the last quarter. Watershed Private Wealth LLC lifted its stake in Lemonade by 1.7% in the 4th quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares in the last quarter. AQR Capital Management LLC boosted its position in Lemonade by 0.7% during the 4th quarter. AQR Capital Management LLC now owns 21,569 shares of the company’s stock worth $1,535,000 after acquiring an additional 159 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Lemonade by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company’s stock worth $600,000 after acquiring an additional 219 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Lemonade by 7.2% during the 4th quarter. GAMMA Investing LLC now owns 3,529 shares of the company’s stock worth $251,000 after acquiring an additional 236 shares in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LMND. Truist Financial cut their price objective on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Citizens Jmp cut their price target on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. UBS Group set a $75.00 price objective on shares of Lemonade in a research note on Thursday, May 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Tuesday, April 21st. Four equities 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. According to MarketBeat, Lemonade currently has a consensus rating of “Hold” and a consensus target price of $65.33.

Insider Activity at Lemonade

In other news, insider Maya Prosor sold 1,220 shares of the firm’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 of the company’s stock, valued at $9,973,256.41. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Lemonade 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 transaction, the insider owned 77,942 shares of the company’s stock, valued at $6,157,418. This represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,007 shares of company stock worth $620,201 in the last 90 days. Corporate insiders own 12.20% of the company’s stock.

Lemonade Price Performance

Shares of LMND stock opened at $70.56 on Tuesday. The company has a fifty day moving average price of $59.29 and a two-hundred day moving average price of $64.95. Lemonade, Inc. has a one year low of $35.70 and a one year high of $99.90. The stock has a market cap of $5.42 billion, a P/E ratio of -37.73 and a beta of 1.79.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The company had revenue of $258.00 million for the quarter, compared to analyst estimates of $251.51 million. During the same period in the previous year, the business earned ($0.86) EPS. Lemonade’s revenue for the quarter was up 70.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Lemonade, Inc. will post -1.7 EPS for the current fiscal year.

Lemonade 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.