Lemonade (NYSE:LMND) Trading Down 4.3%

Lemonade, Inc. (NYSE:LMND)’s stock price dropped 4.3% on Tuesday . The company traded as low as $15.73 and last traded at $15.90. Approximately 499,868 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,716,230 shares. The stock had previously closed at $16.62.

Wall Street Analyst Weigh In

LMND has been the topic of a number of analyst reports. JMP Securities reissued a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a report on Monday, April 15th. Piper Sandler increased their price target on Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Jefferies Financial Group lifted their price target on shares of Lemonade from $14.00 to $16.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lemonade currently has an average rating of “Hold” and a consensus target price of $18.86.

Lemonade Price Performance

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.00 and a beta of 1.78. The business has a fifty day moving average price of $17.94 and a 200 day moving average price of $17.27.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.07. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. The firm had revenue of $122.00 million during the quarter, compared to the consensus estimate of $121.77 million. During the same period in the prior year, the firm earned ($0.97) EPS. The business’s revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts predict that Lemonade, Inc. will post -2.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Timothy E. Bixby acquired 15,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of $15.51 per share, for a total transaction of $232,650.00. Following the completion of the transaction, the chief financial officer now owns 25,000 shares in the company, valued at approximately $387,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Timothy E. Bixby sold 2,077 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $16.03, for a total value of $33,294.31. Following the completion of the transaction, the chief financial officer now owns 273,602 shares in the company, valued at approximately $4,385,840.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Timothy E. Bixby bought 15,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $15.51 per share, for a total transaction of $232,650.00. Following the completion of the transaction, the chief financial officer now owns 25,000 shares in the company, valued at approximately $387,750. The disclosure for this purchase can be found here. 12.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Lemonade by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 459,824 shares of the company’s stock valued at $7,417,000 after purchasing an additional 6,809 shares during the period. Halter Ferguson Financial Inc. acquired a new stake in Lemonade in the 4th quarter valued at $6,429,000. GSA Capital Partners LLP bought a new stake in Lemonade in the first quarter valued at $3,100,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Lemonade by 8.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock worth $1,853,000 after acquiring an additional 9,107 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new position in shares of Lemonade during the fourth quarter valued at $946,000. Institutional investors and hedge funds 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.