Insider Selling: Lemonade (NYSE:LMND) Insider Sells $56,815.20 in Stock

Lemonade, Inc. (NYSE:LMND) insider Maya Prosor sold 1,040 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total transaction of $56,815.20. Following the transaction, the insider directly owned 186,533 shares of the company’s stock, valued at $10,190,297.79. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lemonade Stock Up 0.9%

Shares of LMND stock opened at $49.66 on Friday. The firm has a market cap of $3.84 billion, a P/E ratio of -27.14 and a beta of 1.87. The company has a 50 day moving average of $57.69 and a 200-day moving average of $58.35. Lemonade, Inc. has a 12-month low of $46.16 and a 12-month high of $99.90.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group set a $75.00 price target on Lemonade in a research note on Thursday, May 21st. TD Cowen restated a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Morgan Stanley dropped their price objective on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. Wall Street Zen lowered shares of Lemonade from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.50.

Hedge Funds Weigh In On Lemonade

A number of large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Lemonade during the 2nd quarter worth about $30,000. Northwestern Mutual Wealth Management Co. bought a new position in Lemonade in the 4th quarter worth about $33,000. Strive Financial Group LLC bought a new position in Lemonade in the 4th quarter worth about $38,000. Finally, State of Wyoming purchased a new position in Lemonade during the 1st quarter valued at about $42,000. 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.