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

Lemonade, Inc. (NYSE:LMND) was down 4.2% during trading on Friday following insider selling activity. 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 the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at $9,482,650. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 directly owns 189,653 shares in the company, valued at $7,586,120. This represents a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Maria Angelidis-Smith sold 33,554 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 40,916 shares in the company, valued at approximately $1,240,982.28. The trade was a 45.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

LMND has been the subject of a number of recent research reports. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and raised their target price for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Piper Sandler boosted their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group lowered their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $42.00 in a report on Wednesday. Finally, BMO Capital Markets boosted their price target on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.43.

Lemonade Trading Down 3.8 %

The firm has a market capitalization of $3.46 billion, a PE ratio of -16.57 and a beta of 1.68. The company has a fifty day moving average price of $22.36 and a two-hundred day moving average price of $19.29.

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

Hedge Funds Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares in the last quarter. Quest Partners LLC grew its stake in Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after acquiring an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Lemonade in the second quarter valued at approximately $180,000. Finally, Bristlecone Advisors LLC acquired a new stake in Lemonade during the 3rd quarter valued at $218,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Company Profile

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.