Insider Selling: Lemonade, Inc. (NYSE:LMND) COO Sells 23,644 Shares of Stock

Lemonade, Inc. (NYSE:LMND) COO Adina Eckstein sold 23,644 shares of the company’s 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 sale, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

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

Lemonade Price Performance

Shares of Lemonade stock traded up $3.78 on Thursday, hitting $50.36. The company had a trading volume of 9,791,625 shares, compared to its average volume of 1,757,450. The business has a 50-day simple moving average of $22.36 and a 200-day simple moving average of $19.29. The company has a market cap of $3.60 billion, a PE ratio of -16.57 and a beta of 1.68. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $52.22.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate 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 business had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. During the same period in the prior year, the business earned ($0.88) earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities research analysts predict that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after acquiring an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Lemonade by 321.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after acquiring an additional 3,403 shares in the last quarter. Quest Partners LLC lifted its position in shares of 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 in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Lemonade in the 2nd quarter worth approximately $180,000. Finally, Bristlecone Advisors LLC purchased a new stake in Lemonade in the 3rd quarter worth approximately $218,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LMND. Keefe, Bruyette & Woods lowered shares of 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. BMO Capital Markets upped 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. Jefferies Financial Group cut their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research report on Tuesday, October 15th. Finally, Piper Sandler boosted their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday. Three investment 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, the stock presently has a consensus rating of “Hold” and an average price target of $27.57.

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.