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

Illumine Investment Management LLC cut its stake in shares of Lemonade, Inc. (NYSE:LMND) by 27.2% in the 1st quarter, HoldingsChannel reports. The fund owned 22,415 shares of the company’s stock after selling 8,369 shares during the quarter. Illumine Investment Management LLC’s holdings in Lemonade were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of 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 worth $105,644,000 after purchasing an additional 965,321 shares during the period. Man Group plc bought a new stake in Lemonade in the 4th quarter valued at $25,978,000. Goldman Sachs Group Inc. boosted its stake in Lemonade by 50.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock valued at $61,676,000 after purchasing an additional 291,122 shares during the period. Two Sigma Investments LP grew its holdings in Lemonade by 45.0% in the 3rd quarter. Two Sigma Investments LP now owns 813,062 shares of the company’s stock valued at $43,523,000 after buying an additional 252,298 shares in the last quarter. Finally, Millennium Management LLC increased its position in Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock worth $10,370,000 after buying an additional 237,044 shares during the period. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Up 0.1%

LMND opened at $70.56 on Tuesday. Lemonade, Inc. has a twelve month low of $35.70 and a twelve month high of $99.90. The company has a 50-day simple moving average of $59.29 and a 200 day simple moving average of $64.95. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -37.73 and a beta of 1.79.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, beating 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 firm had revenue of $258.00 million for the quarter, compared to analyst estimates of $251.51 million. During the same period last year, the firm earned ($0.86) EPS. The business’s quarterly revenue was up 70.6% compared to the same quarter last year. Sell-side analysts anticipate that Lemonade, Inc. will post -1.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LMND shares. TD Cowen reissued a “hold” rating on shares of Lemonade in a report on Monday, June 8th. 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. Citizens Jmp dropped their price objective on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. UBS Group set a $75.00 price objective on shares of Lemonade in a report on Thursday, May 21st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Lemonade from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.33.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,444 shares of the firm’s stock in a transaction 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 sale, the insider owned 77,942 shares of the company’s stock, valued at approximately $6,157,418. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction 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 in the company, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 10,007 shares of company stock worth $620,201 in the last quarter. 12.20% of the stock is currently owned by company insiders.

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.