Lemonade, Inc. (NYSE:LMND) COO Sells $1,182,200.00 in Stock

Lemonade, Inc. (NYSE:LMND) COO Adina Eckstein sold 23,644 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 189,653 shares in the company, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Adina Eckstein also recently made the following trade(s):

• On Tuesday, November 19th, Adina Eckstein sold 23,644 shares of Lemonade stock. The shares were sold at an average price of $40.00, for a total transaction of $945,760.00.

Lemonade Trading Up 8.1 %

LMND stock traded up $3.78 during trading on Thursday, hitting $50.36. 9,791,625 shares of the stock traded hands, compared to its average volume of 1,757,450. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -16.57 and a beta of 1.68. Lemonade, Inc. has a one year low of $14.03 and a one year high of $52.22. The company has a 50 day simple moving average of $22.36 and a 200 day simple moving average of $19.29.

Lemonade (NYSE:LMND) last posted 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 net margin of 43.51% and a negative return on equity of 32.85%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.88) EPS. As a group, analysts predict that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lemonade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMND. Marshall Wace LLP acquired a new stake in Lemonade in the 2nd quarter valued at about $14,181,000. General Equity Holdings LP acquired a new stake in shares of Lemonade during the 2nd quarter worth approximately $5,198,000. FMR LLC grew its position in shares of Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after buying an additional 153,362 shares during the period. Millennium Management LLC grew its position in shares of Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Lemonade during the 3rd quarter worth approximately $1,571,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LMND shares. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a research note on Wednesday. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and increased their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Jefferies Financial Group reduced their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a report on Tuesday, October 15th. Finally, BMO Capital Markets raised their price objective 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 given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and an average target price of $27.57.

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.