Maya Prosor Sells 1,040 Shares of Lemonade (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) insider Maya Prosor sold 1,040 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 186,533 shares in the company, valued at $10,190,297.79. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lemonade Stock Performance

Shares of NYSE LMND traded down $2.82 during midday trading on Tuesday, reaching $50.59. The stock had a trading volume of 1,242,342 shares, compared to its average volume of 1,882,510. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -27.64 and a beta of 1.87. Lemonade, Inc. has a 12-month low of $46.16 and a 12-month high of $99.90. The stock has a 50-day moving average of $58.82 and a 200-day 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, meeting the consensus estimate of ($0.56). The company had revenue of $294.40 million for the quarter, compared to the consensus estimate of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The firm’s quarterly revenue was up 79.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.60) EPS. As a group, analysts forecast that Lemonade, Inc. will post -1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LMND has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research report on Friday, July 17th. Morgan Stanley reduced their target price on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. UBS Group set a $75.00 target price on shares of Lemonade in a report on Thursday, May 21st. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Finally, Piper Sandler cut their price target on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $64.50.

Institutional Investors Weigh In On Lemonade

A number of institutional investors and hedge funds have recently modified their holdings of LMND. BlackRock Inc. bought a new position in Lemonade in the 2nd quarter valued at $393,408,000. California State Teachers Retirement System lifted its position in shares of Lemonade by 6,592.2% during the second quarter. California State Teachers Retirement System now owns 4,877,709 shares of the company’s stock worth $317,295,000 after purchasing an additional 4,804,822 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lemonade by 186.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock worth $105,644,000 after purchasing an additional 965,321 shares during the last quarter. Man Group plc purchased a new stake in shares of Lemonade during the fourth quarter valued at $25,978,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Lemonade by 50.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock valued at $61,676,000 after purchasing an additional 291,122 shares during the period. 80.30% of the stock is owned by institutional investors.

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.