Sparta 24 Ltd. Has $6.63 Million Position in Lemonade, Inc. $LMND

Sparta 24 Ltd. trimmed its stake in shares of Lemonade, Inc. (NYSE:LMND) by 37.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,728 shares of the company’s stock after selling 63,610 shares during the period. Lemonade comprises about 7.6% of Sparta 24 Ltd.’s portfolio, making the stock its 4th largest position. Sparta 24 Ltd.’s holdings in Lemonade were worth $6,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. NFSG Corp increased its holdings in Lemonade by 456.8% during the 1st quarter. NFSG Corp now owns 3,257 shares of the company’s stock worth $204,000 after purchasing an additional 2,672 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Lemonade by 24.8% in the first quarter. Principal Financial Group Inc. now owns 4,453 shares of the company’s stock valued at $279,000 after purchasing an additional 884 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Lemonade by 2.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 91,662 shares of the company’s stock valued at $5,745,000 after purchasing an additional 2,400 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Lemonade in the first quarter valued at about $1,793,000. Finally, Kestra Advisory Services LLC boosted its position in shares of Lemonade by 37.6% during the first quarter. Kestra Advisory Services LLC now owns 6,882 shares of the company’s stock worth $431,000 after buying an additional 1,881 shares during the period. 80.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LMND has been the subject of a number of research reports. Citizens Jmp decreased their price objective on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Piper Sandler boosted their target price on Lemonade from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $75.00 price target on shares of Lemonade in a research report on Wednesday, July 8th. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $66.78.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,608 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the transaction, the insider directly owned 81,386 shares in the company, valued at $4,308,574.84. This trade represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the transaction, the insider owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. 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. Insiders have sold 10,007 shares of company stock valued at $620,201 over the last three months. Insiders own 12.20% of the company’s stock.

Lemonade Price Performance

Shares of NYSE:LMND opened at $67.41 on Friday. The company’s 50-day moving average price is $60.26 and its two-hundred day moving average price is $64.73. Lemonade, Inc. has a one year low of $35.70 and a one year high of $99.90. The stock has a market capitalization of $5.18 billion, a PE ratio of -36.05 and a beta of 1.79.

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

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.