Lemonade (NYSE:LMND) Shares Down 7.4% Following Insider Selling

Shares of Lemonade, Inc. (NYSE:LMND) traded down 7.4% during trading on Monday after an insider sold shares in the company. The company traded as low as $87.41 and last traded at $86.36. 1,418,681 shares were traded during trading, a decline of 37% from the average session volume of 2,263,787 shares. The stock had previously closed at $93.25.

Specifically, insider John Sheldon Peters sold 9,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $90.00, for a total transaction of $810,000.00. Following the completion of the transaction, the insider owned 70,228 shares in the company, valued at approximately $6,320,520. This represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel A. Schreiber sold 126,625 shares of Lemonade stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $94.74, for a total transaction of $11,996,452.50. Following the completion of the sale, the chief executive officer owned 1,523,534 shares in the company, valued at approximately $144,339,611.16. This represents a 7.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

LMND has been the subject of several recent analyst reports. Citigroup restated an “outperform” rating on shares of Lemonade in a research report on Friday, January 16th. Keefe, Bruyette & Woods increased their price objective on Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, November 25th. JMP Securities set a $80.00 target price on Lemonade in a research note on Monday, November 24th. Piper Sandler reduced their price target 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, Morgan Stanley set a $85.00 price target on Lemonade and gave the company an “equal weight” rating in a report on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.50.

Lemonade Price Performance

The business has a fifty day moving average of $78.64 and a 200-day moving average of $62.42. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of -36.64 and a beta of 1.98.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LMND. TD Waterhouse Canada Inc. boosted its stake in shares of Lemonade by 3.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,671 shares of the company’s stock worth $261,000 after acquiring an additional 121 shares in the last quarter. Watershed Private Wealth LLC lifted its holdings in shares of Lemonade by 1.7% during the fourth quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares during the last quarter. Titleist Asset Management LLC lifted its holdings in shares of Lemonade by 4.1% during the third quarter. Titleist Asset Management LLC now owns 4,832 shares of the company’s stock valued at $259,000 after purchasing an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Lemonade by 2.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company’s stock valued at $600,000 after purchasing an additional 219 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in Lemonade by 4.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,683 shares of the company’s stock worth $249,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

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.