Lemonade (NYSE:LMND) Shares Down 5.2% on Insider Selling

Lemonade, Inc. (NYSE:LMND) shares traded down 5.2% on Monday following insider selling activity. The stock traded as low as $39.31 and last traded at $39.37. 451,564 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,821,631 shares. The stock had previously closed at $41.54.

Specifically, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total transaction of $304,022.34. Following the completion of the transaction, the insider now owns 10,699,211 shares of the company’s stock, valued at $460,280,057.22. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the sale, the insider now directly owns 11,263,569 shares of the company’s stock, valued at $498,863,471.01. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Michael A. Eisenberg sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $40.15, for a total transaction of $481,800.00. Following the completion of the sale, the director now directly owns 94,670 shares in the company, valued at approximately $3,801,000.50. This trade represents a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LMND shares. JMP Securities boosted their target price on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Piper Sandler raised their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Finally, BMO Capital Markets boosted their target price on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.43.

Lemonade Trading Down 5.2 %

The firm’s fifty day moving average price is $34.10 and its 200 day moving average price is $23.42. The firm has a market capitalization of $2.81 billion, a PE ratio of -12.95 and a beta of 2.09.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The company had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned ($0.88) EPS. As a group, research analysts expect that Lemonade, Inc. will post -3.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC boosted its stake in shares of Lemonade by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after acquiring an additional 2,017 shares in the last quarter. Barclays PLC raised its position in shares of Lemonade by 292.5% in the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after purchasing an additional 65,144 shares during the period. Main Management ETF Advisors LLC acquired a new stake in shares of Lemonade in the third quarter worth $614,000. State Street Corp lifted its stake in shares of Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after buying an additional 14,028 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after buying an additional 3,403 shares during the period. Institutional investors own 80.30% of the company’s stock.

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.