Lemonade, Inc. (NYSE:LMND) Insider Sells $600,000.00 in Stock

Lemonade, Inc. (NYSE:LMND) insider Maya Prosor sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the transaction, the insider now owns 59,286 shares of the company’s stock, valued at approximately $1,778,580. The trade was a 25.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lemonade Trading Up 5.0 %

Shares of Lemonade stock opened at $33.30 on Friday. The stock has a 50-day moving average price of $20.36 and a 200 day moving average price of $18.59. The company has a market cap of $2.38 billion, a P/E ratio of -10.95 and a beta of 1.68. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $35.17.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same period in the prior year, the firm posted ($0.88) EPS. The business’s revenue was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research report on Tuesday, October 15th. Piper Sandler lifted their price target on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and increased their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Morgan Stanley increased their price objective on Lemonade from $15.00 to $23.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, Jefferies Financial Group reduced their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and an average target price of $23.33.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LMND. Marshall Wace LLP acquired a new position in Lemonade in the 2nd quarter worth about $14,181,000. General Equity Holdings LP acquired a new position in Lemonade in the 2nd quarter worth about $5,198,000. FMR LLC increased its position in Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the last quarter. Millennium Management LLC increased its position in Lemonade by 388.7% in the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after purchasing an additional 131,784 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Lemonade during the 3rd quarter valued at about $1,571,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.