Daniel Schreiber Sells 9,108 Shares of Lemonade (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) CEO Daniel Schreiber sold 9,108 shares of Lemonade stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $99.04, for a total value of $902,056.32. Following the transaction, the chief executive officer directly owned 1,514,426 shares of the company’s stock, valued at $149,988,751.04. The trade was a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Lemonade Trading Down 8.0%

LMND stock opened at $68.24 on Friday. The firm has a 50 day moving average of $79.97 and a 200-day moving average of $64.14. The firm has a market capitalization of $5.10 billion, a P/E ratio of -28.55 and a beta of 2.03. Lemonade, Inc. has a 12 month low of $24.31 and a 12 month high of $99.90.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, November 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping 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 business had revenue of $194.50 million for the quarter, compared to analysts’ expectations of $185.06 million. During the same period in the prior year, the company posted ($0.95) EPS. The business’s revenue for the quarter was up 42.4% compared to the same quarter last year. Sell-side analysts predict that Lemonade, Inc. will post -3.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LMND shares. Piper Sandler dropped their price objective on Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price target on Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, November 25th. Citizens Jmp upped their price objective on shares of Lemonade from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Monday, November 24th. Finally, JMP Securities set a $80.00 target price on shares of Lemonade in a research note on Monday, November 24th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $71.50.

Hedge Funds Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. increased its position 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 valued at $261,000 after purchasing an additional 121 shares during the last quarter. Watershed Private Wealth LLC boosted its stake in Lemonade by 1.7% in the fourth quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company’s stock worth $592,000 after buying an additional 140 shares in the last quarter. Titleist Asset Management LLC grew its position in 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 acquiring an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Lemonade by 2.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company’s stock valued at $600,000 after acquiring an additional 219 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Lemonade by 4.0% during the second quarter. Ameritas Investment Partners Inc. now owns 5,683 shares of the company’s stock worth $249,000 after acquiring an additional 220 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

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.