Lemonade (NYSE:LMND) Stock Price Down 6.4% – Should You Sell?

Lemonade, Inc. (NYSE:LMND)’s stock price traded down 6.4% on Tuesday . The stock traded as low as $35.65 and last traded at $36.11. 1,356,275 shares changed hands during trading, a decline of 15% from the average session volume of 1,590,000 shares. The stock had previously closed at $38.56.

Analyst Ratings Changes

Several equities analysts recently weighed in on LMND shares. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and raised 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 report on Friday, November 22nd. Jefferies Financial Group dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler boosted their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets raised their price target on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. Three investment 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. Based on data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and an average price target of $30.43.

Lemonade Price Performance

The company has a market cap of $2.46 billion, a P/E ratio of -11.32 and a beta of 2.17. The stock’s 50-day moving average price is $39.29 and its 200-day moving average price is $25.49.

Lemonade (NYSE:LMND) last posted its quarterly earnings data 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. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Lemonade’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.88) earnings per share. As a group, analysts expect that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In other news, insider John Sheldon Peters sold 28,985 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the completion of the transaction, the insider now owns 69,508 shares of the company’s stock, valued at approximately $2,687,874.36. This trade represents a 29.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the completion of the sale, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $9,482,650. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 900,499 shares of company stock worth $39,114,376 over the last 90 days. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

A number of institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of Lemonade during the 2nd quarter valued at $14,181,000. General Equity Holdings LP bought a new position in shares of Lemonade during the 2nd quarter worth about $5,198,000. FMR LLC grew its stake in shares of Lemonade by 93.0% in the 3rd 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 during the period. 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 valued at $2,734,000 after buying an additional 131,784 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Lemonade during the 3rd quarter worth approximately $1,571,000. 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.