Insider Selling: Lemonade (NYSE:LMND) Insider Sells $56,815.20 in Stock

Lemonade, Inc. (NYSE:LMND) insider Maya Prosor sold 1,040 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total value of $56,815.20. Following the completion of the sale, the insider directly owned 186,533 shares in the company, valued at approximately $10,190,297.79. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lemonade Stock Down 5.3%

Shares of NYSE:LMND traded down $2.82 on Tuesday, hitting $50.59. 1,242,342 shares of the company traded hands, compared to its average volume of 1,882,510. The company has a market cap of $3.92 billion, a PE ratio of -27.64 and a beta of 1.87. Lemonade, Inc. has a 52 week low of $46.16 and a 52 week high of $99.90. The stock has a 50 day simple moving average of $58.82 and a 200-day simple moving average of $58.60.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.56). The business had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The business’s revenue for the quarter was up 79.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.60) earnings per share. As a group, sell-side analysts anticipate that Lemonade, Inc. will post -1.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LMND shares. Keefe, Bruyette & Woods raised Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a research report on Thursday, July 30th. TD Cowen reissued a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. UBS Group set a $75.00 price target on Lemonade in a report on Thursday, May 21st. Finally, Piper Sandler dropped their price objective on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Lemonade by 8,080.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Lemonade in the 2nd quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Lemonade during the 4th quarter valued at $33,000. NewEdge Advisors LLC purchased a new stake in Lemonade during the 1st quarter valued at $35,000. Finally, Strive Financial Group LLC bought a new position in shares of Lemonade during the 4th quarter valued at $38,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

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.