Lemonade (NYSE:LMND) Stock Price Down 6.6%

Lemonade, Inc. (NYSE:LMNDGet Free Report) was down 6.6% on Friday . The stock traded as low as $14.30 and last traded at $14.41. Approximately 1,611,913 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 1,676,467 shares. The stock had previously closed at $15.43.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LMND shares. Keefe, Bruyette & Woods raised their target price on shares of Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Monday, March 4th. JMP Securities reissued a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research report on Monday, April 15th. Morgan Stanley raised their price objective on shares of Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 28th. Jefferies Financial Group lifted their price objective on shares of Lemonade from $14.00 to $16.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 7th. Finally, Piper Sandler increased their price target on Lemonade from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.86.

Read Our Latest Research Report on Lemonade

Lemonade Price Performance

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -4.63 and a beta of 1.79. The company’s fifty day simple moving average is $16.85 and its two-hundred day simple moving average is $16.95.

Lemonade (NYSE:LMNDGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.14. The firm had revenue of $119.10 million during the quarter, compared to analyst estimates of $114.13 million. Lemonade had a negative return on equity of 30.30% and a negative net margin of 48.14%. The business’s revenue was up 25.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.95) EPS. On average, analysts forecast that Lemonade, Inc. will post -2.94 earnings per share for the current year.

Insider Activity at Lemonade

In related news, CFO Timothy E. Bixby sold 2,077 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $16.03, for a total value of $33,294.31. Following the completion of the transaction, the chief financial officer now directly owns 273,602 shares of the company’s stock, valued at approximately $4,385,840.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lemonade

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Lemonade by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 459,824 shares of the company’s stock valued at $7,417,000 after acquiring an additional 6,809 shares during the period. Halter Ferguson Financial Inc. bought a new stake in Lemonade in the 4th quarter worth $6,429,000. GSA Capital Partners LLP bought a new position in shares of Lemonade during the first quarter valued at about $3,100,000. Swiss National Bank grew its stake in shares of Lemonade by 1.2% in the third quarter. Swiss National Bank now owns 114,500 shares of the company’s stock worth $1,330,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Lemonade by 14.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 114,013 shares of the company’s stock worth $1,839,000 after acquiring an additional 14,745 shares during the period. 80.30% of the stock is currently owned by institutional investors.

About Lemonade

(Get Free Report)

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.

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