Lemonade (NYSE:LMND) Shares Down 5.2% After Insider Selling

Lemonade, Inc. (NYSE:LMND) shares fell 5.2% during trading on Monday after an insider sold shares in the company. The company traded as low as $39.31 and last traded at $39.37. 451,564 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,821,631 shares. The stock had previously closed at $41.54.

Specifically, insider John Sheldon Peters sold 1,790 shares of Lemonade stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $45.50, for a total value of $81,445.00. Following the transaction, the insider now owns 88,493 shares of the company’s stock, valued at $4,026,431.50. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total transaction of $304,022.34. Following the sale, the insider now directly owns 10,699,211 shares of the company’s stock, valued at approximately $460,280,057.22. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of Lemonade stock in a transaction on Monday, December 16th. The shares were sold at an average price of $44.29, for a total value of $31,880,606.35. Following the transaction, the insider now owns 11,263,569 shares in the company, valued at $498,863,471.01. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler raised their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. BMO Capital Markets upped their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Finally, Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $42.00 in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and a consensus target price of $30.43.

Lemonade Price Performance

The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -13.13 and a beta of 2.09. The business has a 50 day moving average of $34.10 and a 200 day moving average of $23.47.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the prior year, the company posted ($0.88) EPS. The business’s revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts forecast that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMND. Tidal Investments LLC raised its holdings in shares of Lemonade by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after buying an additional 2,017 shares in the last quarter. Barclays PLC grew its position in Lemonade by 292.5% in the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after acquiring an additional 65,144 shares during the period. Main Management ETF Advisors LLC acquired a new position in Lemonade during the third quarter worth $614,000. State Street Corp lifted its holdings in shares of Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after acquiring an additional 14,028 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Lemonade by 321.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after purchasing an additional 3,403 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

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.