John Sheldon Peters Sells 1,735 Shares of Lemonade (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) insider John Sheldon Peters sold 1,735 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $92,249.95. Following the transaction, the insider owned 84,994 shares of the company’s stock, valued at $4,519,130.98. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

John Sheldon Peters also recently made the following trade(s):

• On Thursday, June 4th, John Sheldon Peters sold 3,608 shares of Lemonade stock. The shares were sold at an average price of $52.94, for a total transaction of $191,007.52.

Lemonade Trading Down 0.2%

NYSE:LMND opened at $51.46 on Friday. The firm has a 50-day moving average price of $59.03 and a two-hundred day moving average price of $67.43. Lemonade, Inc. has a twelve month low of $35.70 and a twelve month high of $99.90. The company has a market capitalization of $3.95 billion, a P/E ratio of -27.52 and a beta of 1.83.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. During the same period last year, the firm posted ($0.86) EPS. The firm’s revenue for the quarter was up 70.6% on a year-over-year basis. On average, equities research analysts predict that Lemonade, Inc. will post -1.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LMND. Keefe, Bruyette & Woods raised their target price on shares of Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday, February 24th. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Piper Sandler lowered their price target on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Morgan Stanley lowered their price target on shares of Lemonade from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and an average target price of $64.89.

Institutional Investors Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Lemonade by 52.1% during the first quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock worth $22,591,000 after buying an additional 123,484 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Lemonade during the first quarter worth about $814,000. California State Teachers Retirement System grew its holdings in shares of Lemonade by 22.5% during the first quarter. California State Teachers Retirement System now owns 72,887 shares of the company’s stock worth $4,569,000 after buying an additional 13,411 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Lemonade by 148.5% during the first quarter. Royal Bank of Canada now owns 31,328 shares of the company’s stock worth $1,964,000 after buying an additional 18,721 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Lemonade by 9.3% during the first quarter. The Manufacturers Life Insurance Company now owns 35,439 shares of the company’s stock worth $2,221,000 after buying an additional 3,008 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.