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

Lemonade, Inc. (NYSE:LMND) fell 5.2% during trading on Monday after an insider sold shares in the company. The company traded as low as $39.31 and last traded at $39.37. 451,564 shares traded hands during trading, a decline of 75% from the average session volume of 1,821,631 shares. The stock had previously closed at $41.54.

Specifically, insider John Sheldon Peters sold 1,790 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $45.50, for a total value of $81,445.00. Following the transaction, the insider now owns 88,493 shares of the company’s stock, valued at approximately $4,026,431.50. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of Lemonade stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $43.02, for a total value of $304,022.34. Following the sale, the insider now directly owns 10,699,211 shares of the company’s stock, valued at $460,280,057.22. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the transaction, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. This represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

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

Lemonade Stock Performance

The company has a market cap of $2.95 billion, a PE ratio of -13.58 and a beta of 2.08. The business’s 50-day moving average is $34.55 and its 200 day moving average is $23.64.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million for 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 company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.88) earnings per share. Equities research analysts anticipate that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in Lemonade in the 2nd quarter worth $14,181,000. General Equity Holdings LP bought a new position in Lemonade in the second quarter worth about $5,198,000. FMR LLC raised its stake in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after buying an additional 153,362 shares in the last quarter. Millennium Management LLC lifted its holdings in Lemonade by 388.7% in the second 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 bought a new stake in Lemonade during the 3rd quarter valued at approximately $1,571,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.