Lemonade (NYSE:LMND) Insider Maya Prosor Sells 1,220 Shares

Lemonade, Inc. (NYSE:LMND) insider Maya Prosor sold 1,220 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the sale, the insider owned 187,573 shares of the company’s stock, valued at $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lemonade Stock Performance

LMND stock traded down $0.11 during trading on Friday, hitting $51.46. 1,708,664 shares of the company traded hands, compared to its average volume of 2,180,146. The firm has a market capitalization of $3.95 billion, a PE ratio of -27.52 and a beta of 1.83. Lemonade, Inc. has a 1 year low of $35.70 and a 1 year high of $99.90. The company has a 50-day moving average of $59.35 and a 200-day moving average of $67.54.

Lemonade (NYSE:LMND) last issued 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. The company had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.Lemonade’s quarterly revenue was up 70.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.86) EPS. Sell-side analysts expect that Lemonade, Inc. will post -1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LMND. Morgan Stanley dropped their target price on Lemonade from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Truist Financial dropped their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Citizens Jmp dropped their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. UBS Group set a $75.00 price objective on Lemonade in a report on Thursday, May 21st. Finally, Keefe, Bruyette & Woods increased their price objective on Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, February 24th. Five 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $64.89.

Institutional Investors Weigh In On Lemonade

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Lemonade by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock worth $448,822,000 after buying an additional 26,312 shares during the period. JPMorgan Chase & Co. lifted its holdings in Lemonade by 30.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock worth $187,685,000 after buying an additional 825,522 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Lemonade by 186.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock worth $105,644,000 after buying an additional 965,321 shares during the period. Geode Capital Management LLC lifted its holdings in Lemonade by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company’s stock worth $102,400,000 after buying an additional 67,562 shares during the period. Finally, BIT Capital GmbH lifted its holdings in Lemonade by 69.3% in the 3rd quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock worth $67,145,000 after buying an additional 513,424 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.