Lemonade (NYSE:LMND) Shares Down 4.2% After Insider Selling

Lemonade, Inc. (NYSE:LMND) shares dropped 4.2% during trading on Friday after an insider sold shares in the company. The stock traded as low as $48.11 and last traded at $48.27. Approximately 747,549 shares traded hands during trading, a decline of 57% from the average daily volume of 1,753,032 shares. The stock had previously closed at $50.36.

Specifically, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the completion of the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $9,482,650. The trade was a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adina Eckstein sold 23,644 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the sale, the chief operating officer now owns 189,653 shares in the company, valued at approximately $7,586,120. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. In other Lemonade news, Director Maria Angelidis-Smith sold 33,554 shares of Lemonade stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the completion of the transaction, the director now directly owns 40,916 shares of the company’s stock, valued at $1,240,982.28. The trade was a 45.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

LMND has been the subject of a number of research reports. JMP Securities raised their target price on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday. Jefferies Financial Group lowered their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and boosted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler increased their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.43.

Lemonade Price Performance

The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of -16.21 and a beta of 1.68. The business’s 50-day moving average price is $22.98 and its two-hundred day moving average price is $19.52.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.88) EPS. As a group, research analysts predict that Lemonade, Inc. will post -3.05 EPS for the current year.

Institutional Investors Weigh In On Lemonade

A number of large investors have recently bought and sold shares of LMND. GSA Capital Partners LLP raised its position in shares of Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after buying an additional 42,822 shares in the last quarter. International Assets Investment Management LLC raised its position in Lemonade by 1,549.0% during the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after purchasing an additional 18,480 shares in the last quarter. Millennium Management LLC raised its position in Lemonade by 388.7% during the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after purchasing an additional 131,784 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Lemonade by 436.2% in the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock valued at $752,000 after purchasing an additional 37,073 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of Lemonade in the 1st quarter valued at $718,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.