John Sheldon Peters Sells 2,249 Shares of Lemonade (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) insider John Peters sold 2,249 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $54.45, for a total transaction of $122,458.05. Following the transaction, the insider directly owned 73,834 shares in the company, valued at approximately $4,020,261.30. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

John Sheldon Peters also recently made the following trade(s):

• On Thursday, September 3rd, John Peters sold 859 shares of Lemonade stock. The shares were sold at an average price of $54.63, for a total transaction of $46,927.17.
• On Thursday, August 13th, John Peters sold 11,000 shares of Lemonade stock. The shares were sold at an average price of $52.55, for a total value of $578,050.00.
• On Monday, July 6th, John Peters sold 3,444 shares of Lemonade stock. The stock was sold at an average price of $79.00, for a total value of $272,076.00.

Lemonade Stock Performance

LMND traded down $2.82 during trading on Tuesday, hitting $50.59. 1,242,342 shares of the stock were exchanged, compared to its average volume of 1,882,510. The firm has a 50 day simple moving average of $58.82 and a 200 day simple moving average of $58.60. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -27.64 and a beta of 1.87. Lemonade, Inc. has a 1 year low of $46.16 and a 1 year high of $99.90.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, hitting the consensus estimate of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $291.01 million. During the same period in the prior year, the business earned ($0.60) EPS. The business’s revenue for the quarter was up 79.4% compared to the same quarter last year. As a group, equities analysts anticipate that Lemonade, Inc. will post -1.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on LMND. UBS Group set a $75.00 target price on shares of Lemonade in a report on Thursday, May 21st. TD Cowen restated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Finally, Keefe, Bruyette & Woods raised shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.50.

Institutional Investors Weigh In On Lemonade

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its stake in Lemonade by 8,080.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Lemonade during the second quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Lemonade during the fourth quarter valued at about $33,000. NewEdge Advisors LLC purchased a new stake in shares of Lemonade during the first quarter valued at about $35,000. Finally, Strive Financial Group LLC bought a new stake in shares of Lemonade in the 4th quarter valued at about $38,000. Institutional investors own 80.30% of the company’s stock.

About Lemonade

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.