Lemonade (NYSE:LMND) Trading Down 5.4% – Should You Sell?

Lemonade, Inc. (NYSE:LMND) shares were down 5.4% during mid-day trading on Tuesday . The company traded as low as $35.45 and last traded at $35.72. Approximately 297,872 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,647,018 shares. The stock had previously closed at $37.78.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LMND shares. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. JMP Securities lifted their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. BMO Capital Markets upped their price objective on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler lifted their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and an average target price of $32.67.

Lemonade Trading Down 8.7 %

The stock’s 50-day moving average price is $37.36 and its 200-day moving average price is $27.86. The company has a market capitalization of $2.46 billion, a P/E ratio of -11.35 and a beta of 2.15.

Insider Activity

In other Lemonade news, Director Maria Angelidis-Smith bought 15,042 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $33.23 per share, with a total value of $499,845.66. Following the purchase, the director now directly owns 33,554 shares of the company’s stock, valued at approximately $1,114,999.42. The trade was a 81.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction on Thursday, November 21st. The shares were 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 $9,482,650. The trade was a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 846,945 shares of company stock valued at $37,496,684. 12.50% of the stock is currently owned by insiders.

Institutional Trading of Lemonade

Hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Lemonade by 402.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock worth $10,093,000 after purchasing an additional 220,399 shares in the last quarter. FMR LLC boosted its stake in Lemonade by 93.0% during the third quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after buying an additional 153,362 shares in the last quarter. Millennium Management LLC boosted its stake in Lemonade by 388.7% during the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after buying an additional 131,784 shares in the last quarter. Verition Fund Management LLC bought a new position in Lemonade during the third quarter valued at about $1,571,000. Finally, Strategic Financial Concepts LLC bought a new position in Lemonade during the fourth quarter valued at about $2,712,000. Institutional investors own 80.30% of the company’s stock.

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.