Insider Selling: Lemonade (NYSE:LMND) Insider Sells $64,867.40 in Stock

Lemonade, Inc. (NYSE:LMND) insider Maya Prosor sold 1,220 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares of the company’s stock, valued at $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lemonade Stock Performance

Shares of LMND stock opened at $51.46 on Monday. Lemonade, Inc. has a 52-week low of $35.70 and a 52-week high of $99.90. The company has a 50-day simple moving average of $59.03 and a two-hundred day simple moving average of $67.43. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -27.52 and a beta of 1.83.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. During the same period in the prior year, the firm posted ($0.86) EPS. The firm’s quarterly revenue was up 70.6% compared to the same quarter last year. On average, sell-side analysts forecast that Lemonade, Inc. will post -1.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LMND shares. Citizens Jmp reduced their target price on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Truist Financial reduced their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Wolfe Research set a $44.00 target price on shares of Lemonade in a research report on Tuesday, February 24th. Morgan Stanley reduced their target price on shares of Lemonade from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Finally, UBS Group set a $75.00 target price on shares of Lemonade in a research report on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and a consensus price target of $64.89.

Institutional Trading of Lemonade

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after buying an additional 404 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Lemonade during the 4th quarter valued at approximately $33,000. Torren Management LLC purchased a new stake in shares of Lemonade during the 4th quarter valued at approximately $35,000. Strive Financial Group LLC purchased a new stake in shares of Lemonade during the 4th quarter valued at approximately $38,000. Finally, Strategic Advocates LLC purchased a new stake in shares of Lemonade during the 3rd quarter valued at approximately $33,000. 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.