Lemonade (NYSE:LMND) Trading Down 5.9% – What’s Next?

Lemonade, Inc. (NYSE:LMND)’s share price traded down 5.9% on Monday . The stock traded as low as $75.26 and last traded at $74.3210. 410,531 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 2,421,954 shares. The stock had previously closed at $78.97.

Analyst Ratings Changes

A number of research firms have issued reports on LMND. JMP Securities set a $80.00 price objective on Lemonade in a research note on Monday, November 24th. Citizens Jmp increased their target price on Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a research report on Monday, November 24th. Piper Sandler decreased their price target on Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. BMO Capital Markets upped their target price on Lemonade from $23.00 to $42.00 and gave the company an “underperform” rating in a research report on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lemonade has an average rating of “Hold” and an average price target of $58.57.

Lemonade Trading Down 0.9%

The business’s fifty day simple moving average is $64.15 and its 200-day simple moving average is $52.42. The firm has a market cap of $5.87 billion, a P/E ratio of -32.84 and a beta of 2.12.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $185.06 million. During the same period in the previous year, the firm posted ($0.95) EPS. The firm’s revenue was up 42.4% compared to the same quarter last year. As a group, research analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Activity at Lemonade

In other Lemonade news, COO Adina Eckstein sold 41,557 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $78.95, for a total transaction of $3,280,925.15. Following the transaction, the chief operating officer owned 204,229 shares in the company, valued at approximately $16,123,879.55. This represents a 16.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 18,930 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $72.77, for a total transaction of $1,377,536.10. Following the completion of the transaction, the insider owned 83,467 shares of the company’s stock, valued at approximately $6,073,893.59. The trade was a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 145,052 shares of company stock worth $10,982,886 over the last ninety days. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lemonade

Institutional investors and hedge funds have recently bought and sold shares of the business. Analyst IMS Investment Management Services Ltd. lifted its position in shares of Lemonade by 80.7% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock worth $25,049,000 after buying an additional 255,368 shares during the last quarter. Mandatum Life Insurance Co Ltd bought a new position in shares of Lemonade in the second quarter valued at $202,000. Bank of New York Mellon Corp boosted its holdings in shares of Lemonade by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 160,328 shares of the company’s stock worth $7,024,000 after buying an additional 6,646 shares during the period. Titleist Asset Management LLC acquired a new position in Lemonade during the second quarter valued at $203,000. Finally, Jump Financial LLC boosted its stake in shares of Lemonade by 365.8% during the 2nd quarter. Jump Financial LLC now owns 581,378 shares of the company’s stock valued at $25,470,000 after buying an additional 456,571 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.