Lemonade (NYSE:LMND) Trading Down 5.2% – What’s Next?

Lemonade, Inc. (NYSE:LMND)’s stock price fell 5.2% during trading on Monday . The company traded as low as $49.10 and last traded at $49.11. 705,824 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,778,314 shares. The stock had previously closed at $51.81.

Analyst Ratings Changes

Several analysts recently weighed in on LMND shares. BMO Capital Markets boosted their price objective on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. Piper Sandler boosted their price target on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Jefferies Financial Group dropped 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. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Finally, JMP Securities increased their target price on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.43.

Lemonade Trading Down 9.6 %

The firm has a 50-day moving average of $26.18 and a 200 day moving average of $20.68. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -15.94 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its quarterly earnings results 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 company had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same period last year, the company earned ($0.88) earnings per share. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts predict that Lemonade, Inc. will post -3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lemonade news, insider Maya Prosor sold 30,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total value of $1,500,000.00. Following the sale, the insider now directly owns 29,286 shares in the company, valued at approximately $1,464,300. The trade was a 50.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,892 shares of company stock worth $5,283,045. 12.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently modified their holdings of LMND. Blue Trust Inc. grew its position in Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after purchasing an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Lemonade by 321.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after acquiring an additional 3,403 shares in the last quarter. Quest Partners LLC lifted its stake in Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after acquiring an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Lemonade during the 2nd quarter worth about $180,000. Finally, Bristlecone Advisors LLC purchased a new position in Lemonade during the 3rd quarter valued at about $218,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.