Lemonade (NYSE:LMND) Insider Sells $64,867.40 in Stock

by · The Markets Daily

Lemonade, Inc. (NYSE:LMND – Get Free Report) insider Maya Prosor sold 1,220 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the sale, the insider directly owned 187,573 shares in the company, valued at $9,973,256.41. This trade represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lemonade Stock Performance

Lemonade stock traded down $0.11 during midday trading on Friday, hitting $51.46. 1,708,664 shares of the company’s stock were exchanged, compared to its average volume of 2,180,146. The company has a market cap of $3.95 billion, a P/E ratio of -27.52 and a beta of 1.83. The stock has a 50-day moving average price of $59.35 and a two-hundred day moving average price of $67.54. Lemonade, Inc. has a 52-week low of $35.70 and a 52-week high of $99.90.

Lemonade (NYSE:LMND – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The firm had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. During the same quarter last year, the company posted ($0.86) EPS. The company’s revenue for the quarter was up 70.6% on a year-over-year basis. As a group, sell-side analysts expect that Lemonade, Inc. will post -1.69 earnings per share for the current year.

Hedge Funds Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently modified their holdings of LMND. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Lemonade by 8,080.0% in the 4th 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 in the last quarter. Strategic Advocates LLC purchased a new position in shares of Lemonade in the 3rd quarter worth about $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Lemonade in the 4th quarter worth about $33,000. Torren Management LLC purchased a new position in shares of Lemonade in the 4th quarter worth about $35,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Lemonade in the 1st quarter worth about $35,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LMND shares. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Truist Financial dropped their price objective on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Piper Sandler cut their target price on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Finally, Wolfe Research set a $44.00 price target on Lemonade in a research note on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.89.

Check Out Our Latest Research Report on LMND

Lemonade Company Profile

(Get Free Report)

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.

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