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

Virtu Financial LLC boosted its position in shares of Lemonade, Inc. (NYSE:LMND) by 72.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,145 shares of the company’s stock after buying an additional 18,929 shares during the quarter. Virtu Financial LLC’s holdings in Lemonade were worth $3,213,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Lemonade by 0.4% in the 4th 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. lifted its stake in shares of 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 lifted 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 valued at $105,644,000 after acquiring an additional 965,321 shares during the period. Geode Capital Management LLC boosted its holdings in Lemonade by 4.9% in 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 last quarter. Finally, BIT Capital GmbH boosted its holdings in Lemonade by 69.3% in the third 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 during the last quarter. 80.30% of the stock is currently owned by institutional investors.

Lemonade Trading Up 3.2%

LMND stock opened at $59.09 on Friday. The business’s 50-day moving average price is $58.27 and its two-hundred day moving average price is $66.43. 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 1-year low of $35.70 and a 1-year high of $99.90.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The firm had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $251.51 million. During the same period in the previous year, the firm earned ($0.86) earnings per share. The company’s revenue was up 70.6% on a year-over-year basis. On average, analysts forecast that Lemonade, Inc. will post -1.71 earnings per share for the current year.

Insider Activity

In related news, insider John Sheldon Peters sold 3,608 shares of the business’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 approximately $4,308,574.84. The trade was a 4.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 business’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 $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 a total of 6,563 shares of company stock worth $348,125 in the last quarter. 14.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on LMND. Piper Sandler dropped their price objective on Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods lifted their price target on shares of Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 24th. Citizens Jmp dropped their price target 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. Finally, Truist Financial dropped their price target on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.89.

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.