Insider Selling: Lemonade (NYSE:LMND) Insider Sells $578,050.00 in Stock

Lemonade, Inc. (NYSE:LMND) insider John Sheldon Peters sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the sale, the insider directly owned 76,942 shares of the company’s stock, valued at approximately $4,043,302.10. This trade represents a 12.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, July 6th, John Sheldon Peters sold 3,444 shares of Lemonade stock. The shares were sold at an average price of $79.00, for a total transaction of $272,076.00.
• On Thursday, June 4th, John Sheldon Peters sold 3,608 shares of Lemonade stock. The shares were sold at an average price of $52.94, for a total value of $191,007.52.
• On Wednesday, June 3rd, John Sheldon Peters sold 1,735 shares of Lemonade stock. The shares were sold at an average price of $53.17, for a total value of $92,249.95.

Lemonade Trading Up 2.1%

LMND opened at $51.19 on Thursday. Lemonade, Inc. has a 1-year low of $46.16 and a 1-year high of $99.90. The company has a market cap of $3.96 billion, a price-to-earnings ratio of -27.97 and a beta of 1.84. The company’s fifty day moving average price is $60.21 and its two-hundred day moving average price is $60.30.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). The business had revenue of $294.40 million for the quarter, compared to analysts’ expectations of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The firm’s revenue for the quarter was up 79.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.60) EPS. As a group, equities analysts forecast that Lemonade, Inc. will post -1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

LMND has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Piper Sandler dropped their price target on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price for the company in a research note on Thursday, July 30th. TD Cowen reissued a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $64.50.

Institutional Investors Weigh In On Lemonade

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in Lemonade by 107.3% in the first quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after purchasing an additional 15,779 shares during the last quarter. Millennium Management LLC boosted its position in Lemonade by 255.2% during the first quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after buying an additional 237,044 shares during the period. NewEdge Advisors LLC bought a new position in shares of Lemonade during the first quarter valued at about $35,000. Goldman Sachs Group Inc. grew its stake in shares of Lemonade by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after buying an additional 41,759 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Lemonade in the second quarter worth about $307,000. Hedge funds and other 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.