Lemonade (NYSE:LMND) Insider Sells $14,402.52 in Stock

Lemonade, Inc. (NYSE:LMND) insider Maya Prosor sold 198 shares of Lemonade stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $72.74, for a total value of $14,402.52. Following the completion of the sale, the insider directly owned 7,627 shares of the company’s stock, valued at approximately $554,787.98. This represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lemonade Stock Up 4.2%

Shares of LMND stock traded up $3.07 during trading hours on Thursday, hitting $76.66. 2,085,376 shares of the company were exchanged, compared to its average volume of 2,429,218. Lemonade, Inc. has a 1 year low of $24.31 and a 1 year high of $83.77. The firm has a fifty day moving average of $62.15 and a 200 day moving average of $50.96. The firm has a market cap of $5.73 billion, a PE ratio of -32.07 and a beta of 2.13.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.21. The company had revenue of $194.50 million for the quarter, compared to analyst estimates of $185.06 million. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. Lemonade’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.95) EPS. Analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Analyst IMS Investment Management Services Ltd. grew its holdings in shares of Lemonade by 80.7% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock worth $25,049,000 after acquiring an additional 255,368 shares during the last quarter. Mandatum Life Insurance Co Ltd purchased a new position in Lemonade during the 2nd quarter valued at about $202,000. Bank of New York Mellon Corp increased its stake in Lemonade by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,328 shares of the company’s stock valued at $7,024,000 after buying an additional 6,646 shares during the period. Titleist Asset Management LLC acquired a new position in shares of Lemonade in the second quarter worth $203,000. Finally, Caxton Associates LLP acquired a new position in Lemonade in the 1st quarter worth about $1,455,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LMND. Citizens Jmp raised their price target on shares of Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a report on Monday, November 24th. JMP Securities set a $80.00 price target on Lemonade in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Wednesday, October 8th. Piper Sandler decreased their target price on Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. Finally, Wall Street Zen raised shares of Lemonade from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.57.

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.