Lemonade (NYSE:LMND) Insider Maya Prosor Sells 1,220 Shares

Lemonade, Inc. (NYSE:LMND) insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lemonade Price Performance

NYSE LMND opened at $51.46 on Friday. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -27.52 and a beta of 1.83. The company’s fifty day moving average is $59.03 and its two-hundred day moving average is $67.43. Lemonade, Inc. has a 52-week low of $35.70 and a 52-week high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to analyst estimates 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 business posted ($0.86) EPS. As a group, sell-side analysts expect that Lemonade, Inc. will post -1.69 earnings per share for the current fiscal year.

Institutional Trading of Lemonade

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after acquiring an additional 404 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Lemonade during the 4th quarter valued at about $33,000. Torren Management LLC acquired a new stake in shares of Lemonade during the 4th quarter valued at about $35,000. Strive Financial Group LLC acquired a new stake in shares of Lemonade during the 4th quarter valued at about $38,000. Finally, Strategic Advocates LLC acquired a new stake in shares of Lemonade during the 3rd quarter valued at about $33,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMND has been the topic of several research analyst reports. Citizens Jmp decreased their price target on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their target price on shares of Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research report on Tuesday, April 21st. Finally, Piper Sandler decreased their target price on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $64.89.

Lemonade Company Profile

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.