Insider Selling: Lemonade, Inc. (NYSE:LMND) Insider Sells $52,663.50 in Stock

Lemonade, Inc. (NYSE:LMND) insider John Sheldon Peters sold 1,494 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $35.25, for a total value of $52,663.50. Following the sale, the insider now directly owns 106,115 shares of the company’s stock, valued at $3,740,553.75. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Lemonade Price Performance

NYSE:LMND opened at $39.98 on Friday. The business has a fifty day simple moving average of $30.28 and a two-hundred day simple moving average of $34.92. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The company has a market capitalization of $2.93 billion, a P/E ratio of -13.15 and a beta of 2.14.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. During the same period in the previous year, the company earned ($0.67) earnings per share. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley lowered Lemonade from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $35.00 to $24.00 in a report on Tuesday, April 8th. Piper Sandler dropped their target price on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods dropped their price target on Lemonade from $25.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, April 22nd. Four analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.17.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently made changes to their positions in the stock. Strategic Financial Concepts LLC purchased a new position in shares of Lemonade in the fourth quarter valued at $2,712,000. The Manufacturers Life Insurance Company grew its position in shares of Lemonade by 7.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company’s stock valued at $1,137,000 after purchasing an additional 2,209 shares in the last quarter. Woodward Diversified Capital LLC purchased a new position in shares of Lemonade in the fourth quarter valued at $381,000. Invesco Ltd. grew its position in shares of Lemonade by 14.0% in the fourth quarter. Invesco Ltd. now owns 76,718 shares of the company’s stock valued at $2,814,000 after purchasing an additional 9,419 shares in the last quarter. Finally, Atria Investments Inc purchased a new position in shares of Lemonade in the fourth quarter valued at $353,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

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.