Lemonade (NYSE:LMND) Stock Price Down 6.4% – Time to Sell?

Lemonade, Inc. (NYSE:LMND) shares were down 6.4% on Tuesday . The company traded as low as $35.65 and last traded at $36.11. Approximately 1,356,275 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 1,590,000 shares. The stock had previously closed at $38.56.

Analysts Set New Price Targets

Several brokerages have issued reports on LMND. JMP Securities raised their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Finally, BMO Capital Markets increased their price objective on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lemonade has a consensus rating of “Hold” and a consensus target price of $30.43.

Lemonade Stock Performance

The company has a 50-day moving average of $38.61 and a 200-day moving average of $25.28. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.88 and a beta of 2.17.

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

Insider Activity at Lemonade

In other news, Director Maria Angelidis-Smith acquired 18,512 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the acquisition, the director now directly owns 18,512 shares in the company, valued at $507,599.04. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the sale, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 900,499 shares of company stock worth $39,114,376. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently made changes to their positions in LMND. Marshall Wace LLP purchased a new position in Lemonade in the 2nd quarter worth approximately $14,181,000. General Equity Holdings LP acquired a new stake in Lemonade during the 2nd quarter valued at $5,198,000. FMR LLC increased its stake in Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after buying an additional 153,362 shares during the period. Millennium Management LLC lifted its holdings in Lemonade by 388.7% in the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Lemonade in the 3rd quarter valued at about $1,571,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

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.