Lemonade, Inc. (NYSE:LMND – Get Free Report) shares were down 9.2% on Wednesday after an insider sold shares in the company. The stock traded as low as $70.98 and last traded at $70.48. 300,477 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,079,488 shares. The stock had previously closed at $77.59.
Specifically, insider John Sheldon Peters sold 3,444 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $79.00, for a total value of $272,076.00. Following the transaction, the insider owned 77,942 shares of the company’s stock, valued at $6,157,418. This represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Analysts Set New Price Targets
Several research firms have weighed in on LMND. TD Cowen reissued a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Piper Sandler decreased their target price on Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. UBS Group set a $75.00 price target on Lemonade in a research note on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Finally, Truist Financial decreased their price objective on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.33.
Lemonade Trading Down 1.1%
The business has a 50 day moving average of $58.73 and a 200-day moving average of $65.09. The firm has a market capitalization of $5.40 billion, a P/E ratio of -37.57 and a beta of 1.79.
Lemonade (NYSE:LMND – Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. The firm had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The business’s quarterly revenue was up 70.6% on a year-over-year basis. During the same period last year, the company posted ($0.86) EPS. On average, analysts anticipate that Lemonade, Inc. will post -1.71 EPS for the current fiscal year.
Institutional Investors Weigh In On Lemonade
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Lemonade by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock worth $448,822,000 after purchasing an additional 26,312 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Lemonade by 186.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after purchasing an additional 965,321 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lemonade by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company’s stock valued at $102,400,000 after purchasing an additional 67,562 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Lemonade by 28.1% in the second quarter. Bank of America Corp DE now owns 993,669 shares of the company’s stock valued at $43,533,000 after purchasing an additional 217,913 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Lemonade by 50.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock worth $61,676,000 after buying an additional 291,122 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.
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.
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