Lemonade (NYSE:LMND) Stock Price Down 7.2% – What’s Next?

Shares of Lemonade, Inc. (NYSE:LMND) dropped 7.2% during mid-day trading on Thursday . The company traded as low as $32.69 and last traded at $32.37. Approximately 713,535 shares changed hands during trading, a decline of 61% from the average daily volume of 1,844,551 shares. The stock had previously closed at $34.88.

Analyst Ratings Changes

LMND has been the topic of a number of recent analyst reports. JMP Securities increased their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Piper Sandler decreased their target price on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, BMO Capital Markets raised their target price on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.00.

Lemonade Price Performance

The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -10.73 and a beta of 2.12. The firm has a fifty day moving average of $34.40 and a 200 day moving average of $30.48.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $144.78 million. Research analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Activity at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the sale, the insider now owns 11,263,569 shares of the company’s stock, valued at $498,863,471.01. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Eisenberg sold 12,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $40.15, for a total value of $481,800.00. Following the sale, the director now directly owns 94,670 shares of the company’s stock, valued at approximately $3,801,000.50. This trade represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 769,766 shares of company stock valued at $33,851,446. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lemonade

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Lemonade by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock valued at $195,999,000 after buying an additional 134,776 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Lemonade by 2,627.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after buying an additional 1,299,891 shares in the last quarter. State Street Corp grew its stake in shares of Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after buying an additional 14,028 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Lemonade in the fourth quarter valued at $22,066,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Lemonade in the fourth quarter valued at $21,310,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.