Lemonade (NYSE:LMND) Stock Price Down 7.2% – What’s Next?

Lemonade, Inc. (NYSE:LMND) shares dropped 7.2% on Friday . The stock traded as low as $61.23 and last traded at $61.2090. Approximately 597,420 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 2,605,556 shares. The stock had previously closed at $65.99.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LMND shares. Wolfe Research set a $44.00 target price on shares of Lemonade in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods raised their price target on shares of Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday, February 24th. Piper Sandler set a $65.00 price objective on shares of Lemonade in a research report on Thursday, February 19th. Morgan Stanley raised Lemonade from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $85.00 in a report on Tuesday, March 17th. Finally, Citigroup reiterated an “outperform” rating on shares of Lemonade in a research report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.75.

Lemonade Stock Down 8.0%

The business has a fifty day moving average of $67.17 and a 200 day moving average of $67.07. The firm has a market cap of $4.64 billion, a P/E ratio of -26.87 and a beta of 2.12.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, February 18th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.19% and a negative net margin of 22.43%.During the same period last year, the business earned ($0.42) EPS. The firm’s revenue was up 53.3% on a year-over-year basis. On average, sell-side analysts expect that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Daniel A. Schreiber sold 9,108 shares of Lemonade stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $99.04, for a total transaction of $902,056.32. Following the transaction, the chief executive officer owned 1,514,426 shares of the company’s stock, valued at $149,988,751.04. This trade represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Sheldon Peters sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total transaction of $187,477.50. Following the transaction, the insider owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. This represents a 4.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,300 shares of company stock worth $14,796,026 over the last quarter. 14.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lemonade

Institutional investors and hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC raised its stake in Lemonade by 7.7% during the 4th quarter. Corient Private Wealth LLC now owns 6,334 shares of the company’s stock worth $451,000 after buying an additional 453 shares during the period. Virtu Financial LLC grew its stake in Lemonade by 72.2% in the fourth quarter. Virtu Financial LLC now owns 45,145 shares of the company’s stock valued at $3,213,000 after acquiring an additional 18,929 shares during the period. Invesco Ltd. grew its stake in Lemonade by 112.6% in the fourth quarter. Invesco Ltd. now owns 144,021 shares of the company’s stock valued at $10,251,000 after acquiring an additional 76,265 shares during the period. Rare Wolf Capital LLC bought a new stake in shares of Lemonade in the fourth quarter worth about $983,000. Finally, Strive Financial Group LLC bought a new stake in shares of Lemonade in the fourth quarter worth about $38,000. Institutional investors and hedge funds 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.