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

Lemonade, Inc. (NYSE:LMND) shares traded down 4.2% on Friday after an insider sold shares in the company. The stock traded as low as $48.11 and last traded at $48.27. 747,549 shares changed hands during trading, a decline of 57% from the average session volume of 1,753,032 shares. The stock had previously closed at $50.36.

Specifically, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $50.00, for a total value of $1,182,200.00. Following the sale, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $9,482,650. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value of $945,760.00. Following the transaction, the chief operating officer now owns 189,653 shares of the company’s stock, valued at $7,586,120. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Maria Angelidis-Smith sold 33,554 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the completion of the transaction, the director now directly owns 40,916 shares in the company, valued at approximately $1,240,982.28. This represents a 45.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

Several equities analysts have commented on LMND shares. BMO Capital Markets increased their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $42.00 in a report on Wednesday. Keefe, Bruyette & Woods cut 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 research note on Thursday, November 7th. Jefferies Financial Group cut their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Finally, JMP Securities increased their price target on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lemonade currently has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Stock Down 3.8 %

The stock’s 50 day moving average price is $22.36 and its 200-day moving average price is $19.29. The stock has a market capitalization of $3.46 billion, a PE ratio of -16.57 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.88) EPS. As a group, sell-side analysts predict that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lemonade

Institutional investors and hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in Lemonade by 18.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after buying an additional 2,710 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Lemonade by 9.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after acquiring an additional 2,196 shares during the period. Tidal Investments LLC purchased a new position in shares of Lemonade during the 1st quarter valued at about $718,000. Concurrent Investment Advisors LLC purchased a new position in Lemonade during the second quarter valued at approximately $180,000. Finally, Van ECK Associates Corp lifted its stake in shares of Lemonade by 12.1% in the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after purchasing an additional 1,915 shares during the period. 80.30% of the stock is owned by 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.