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

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

Lemonade Stock Performance

NYSE:LMND traded down $8.66 during trading hours on Wednesday, hitting $74.03. 4,181,462 shares of the company’s stock traded hands, compared to its average volume of 2,320,309. The stock’s fifty day moving average price is $80.16 and its two-hundred day moving average price is $64.11. The firm has a market cap of $5.53 billion, a P/E ratio of -30.97 and a beta of 2.03. Lemonade, Inc. has a twelve month low of $24.31 and a twelve month high of $99.90.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.21. The firm had revenue of $194.50 million during the quarter, compared to analyst estimates of $185.06 million. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The business’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period last year, the company posted ($0.95) EPS. On average, equities research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LMND has been the subject of a number of research analyst reports. JMP Securities set a $80.00 target price on shares of Lemonade in a research report on Monday, November 24th. Piper Sandler reduced their price objective on Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. Citizens Jmp boosted their target price on Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald lifted their price target on Lemonade from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lemonade has an average rating of “Hold” and an average price target of $71.50.

Institutional Investors Weigh In On Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bayforest Capital Ltd acquired a new position in Lemonade during the third quarter valued at approximately $25,000. Torren Management LLC bought a new stake in shares of Lemonade during the 4th quarter worth $35,000. Strategic Advocates LLC bought a new stake in shares of Lemonade during the 3rd quarter worth $33,000. Estabrook Capital Management acquired a new position in Lemonade in the 2nd quarter valued at $44,000. Finally, Tsfg LLC bought a new position in Lemonade in the 3rd quarter worth $54,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.