Lemonade (NYSE:LMND) Insider John Sheldon Peters Sells 859 Shares of Stock

Lemonade, Inc. (NYSE:LMND) insider John Peters sold 859 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total value of $46,927.17. Following the sale, the insider owned 76,083 shares in the company, valued at approximately $4,156,414.29. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 Friday, September 4th, John Peters sold 2,249 shares of Lemonade stock. The shares were sold at an average price of $54.45, for a total value of $122,458.05.
• On Thursday, August 13th, John Peters sold 11,000 shares of Lemonade stock. The stock was sold at an average price of $52.55, for a total value of $578,050.00.
• On Monday, July 6th, John Peters sold 3,444 shares of Lemonade stock. The stock was sold at an average price of $79.00, for a total value of $272,076.00.

Lemonade Stock Down 5.3%

Shares of Lemonade stock traded down $2.82 on Tuesday, hitting $50.59. The company’s 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 P/E ratio of -27.64 and a beta of 1.87. Lemonade, Inc. has a 52-week low of $46.16 and a 52-week high of $99.90. The firm has a fifty day moving average price of $58.82 and a 200-day moving average price of $58.60.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). The firm had revenue of $294.40 million during the quarter, compared to the consensus estimate of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The firm’s revenue for the quarter was up 79.4% on a year-over-year basis. During the same period last year, the firm posted ($0.60) EPS. As a group, analysts expect that Lemonade, Inc. will post -1.85 earnings per share for the current year.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Lemonade by 107.3% in the first quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock valued at $958,000 after purchasing an additional 15,779 shares during the last quarter. Millennium Management LLC boosted its stake in Lemonade by 255.2% in the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock worth $10,370,000 after buying an additional 237,044 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Lemonade in the 1st quarter worth about $35,000. Goldman Sachs Group Inc. grew its holdings in Lemonade by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after buying an additional 41,759 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in Lemonade in the 2nd quarter valued at about $307,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LMND shares. Morgan Stanley dropped their price objective on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Piper Sandler decreased their price objective on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, Wall Street Zen cut Lemonade from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and a consensus target price of $64.50.

About Lemonade

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.