Cantor Fitzgerald L. P. Cuts Stock Position in Lemonade, Inc. $LMND

Cantor Fitzgerald L. P. cut its stake in shares of Lemonade, Inc. (NYSE:LMND) by 92.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,675 shares of the company’s stock after selling 135,468 shares during the quarter. Cantor Fitzgerald L. P.’s holdings in Lemonade were worth $625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in Lemonade by 195.9% in the third quarter. Federated Hermes Inc. now owns 157,592 shares of the company’s stock valued at $8,436,000 after acquiring an additional 104,342 shares during the period. Halter Ferguson Financial Inc. grew its stake 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 worth $30,828,000 after purchasing an additional 289,803 shares during the period. Analyst IMS Investment Management Services Ltd. increased its holdings in shares of Lemonade by 8.1% in the 3rd quarter. Analyst IMS Investment Management Services Ltd. now owns 617,878 shares of the company’s stock valued at $33,075,000 after purchasing an additional 46,110 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Lemonade by 4.3% in the second 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 period. Finally, Titleist Asset Management LLC acquired a new stake in shares of Lemonade in the second quarter valued at about $203,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on LMND shares. Wolfe Research set a $44.00 target price on shares of Lemonade in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods lifted their price target on shares of Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a research report on Tuesday, February 24th. Morgan Stanley set a $85.00 price target on Lemonade and gave the stock an “equal weight” rating in a research note on Tuesday, December 16th. Citigroup restated an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Finally, Truist Financial assumed coverage on Lemonade in a report on Tuesday, January 6th. They set a “buy” rating and a $98.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.75.

Insider Buying and Selling at Lemonade

In related news, CEO Daniel A. Schreiber sold 126,625 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $94.74, for a total transaction of $11,996,452.50. Following the sale, the chief executive officer owned 1,523,534 shares of the company’s stock, valued at $144,339,611.16. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Sheldon Peters sold 10,000 shares of Lemonade stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the sale, the insider owned 60,771 shares of the company’s stock, valued at approximately $4,861,680. This represents a 14.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 160,300 shares of company stock valued at $14,796,026 in the last three months. 12.50% of the stock is currently owned by company insiders.

Lemonade Trading Up 4.3%

NYSE:LMND opened at $55.15 on Monday. The company has a market capitalization of $4.21 billion, a P/E ratio of -24.40 and a beta of 2.12. The firm has a 50-day moving average price of $70.41 and a two-hundred day moving average price of $66.30. Lemonade, Inc. has a twelve month low of $24.31 and a twelve month high of $99.90.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, February 18th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.12. Lemonade had a negative net margin of 22.43% and a negative return on equity of 31.19%. During the same period in the prior year, the firm earned ($0.42) EPS. The firm’s revenue was up 53.3% compared to the same quarter last year. On average, equities research analysts predict that Lemonade, Inc. will post -3.03 earnings per share 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.