Insider Selling: Lemonade (NYSE:LMND) Insider Sells 1,735 Shares of Stock

Lemonade, Inc. (NYSE:LMND) insider John Sheldon Peters sold 1,735 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 transaction of $92,249.95. Following the transaction, the insider directly owned 84,994 shares of the company’s stock, valued at $4,519,130.98. This represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

John Sheldon Peters also recently made the following trade(s):

• On Thursday, June 4th, John Sheldon Peters sold 3,608 shares of Lemonade stock. The shares were sold at an average price of $52.94, for a total transaction of $191,007.52.

Lemonade Stock Performance

LMND traded down $0.11 during trading on Friday, reaching $51.46. The company’s stock had a trading volume of 1,708,664 shares, compared to its average volume of 2,180,146. The company’s fifty day moving average price is $59.35 and its 200-day moving average price is $67.54. Lemonade, Inc. has a 52-week low of $35.70 and a 52-week high of $99.90. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -27.52 and a beta of 1.83.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.11. The business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The company’s revenue for the quarter was up 70.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.86) EPS. Equities analysts predict that Lemonade, Inc. will post -1.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMND. Vanguard Group Inc. boosted its stake in shares of Lemonade by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock worth $448,822,000 after purchasing an additional 26,312 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Lemonade by 30.8% during the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock worth $187,685,000 after buying an additional 825,522 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Lemonade by 186.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after buying an additional 965,321 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Lemonade by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company’s stock valued at $102,400,000 after buying an additional 67,562 shares during the period. Finally, BIT Capital GmbH lifted its stake in shares of Lemonade by 69.3% during the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock valued at $67,145,000 after buying an additional 513,424 shares during the period. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LMND shares. Citizens Jmp decreased their target price on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, February 24th. Wolfe Research set a $44.00 target price on shares of Lemonade in a research report on Tuesday, February 24th. Finally, Piper Sandler dropped their target price on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Lemonade currently has a consensus rating of “Hold” and a consensus target price of $64.89.

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.