Lemonade (NYSE:LMND) CEO Sells $902,056.32 in Stock

Lemonade, Inc. (NYSE:LMND) CEO Daniel Schreiber sold 9,108 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $99.04, for a total value of $902,056.32. Following the completion of the sale, the chief executive officer directly owned 1,514,426 shares in the company, valued at approximately $149,988,751.04. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Lemonade Price Performance

Shares of NYSE LMND traded down $8.66 during trading hours on Wednesday, hitting $74.03. 4,181,462 shares of the company’s stock were exchanged, compared to its average volume of 2,320,309. The company’s 50-day moving average price is $80.16 and its 200-day moving average price is $64.11. Lemonade, Inc. has a 1-year low of $24.31 and a 1-year high of $99.90. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of -30.97 and a beta of 2.03.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.21. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The company had revenue of $194.50 million for the quarter, compared to the consensus estimate of $185.06 million. During the same period in the previous year, the business posted ($0.95) EPS. The company’s revenue for the quarter was up 42.4% on a year-over-year basis. On average, research analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. Citizens Jmp upped their price objective on shares of Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a research report on Monday, November 24th. Cantor Fitzgerald increased their target price on shares of Lemonade from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Piper Sandler lowered their price target on Lemonade from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Finally, Morgan Stanley set a $85.00 price target on Lemonade and gave the company an “equal weight” rating in a report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.50.

Institutional Trading of Lemonade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMND. Vanguard Group Inc. raised its position in Lemonade by 0.4% in the fourth 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Lemonade by 30.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock valued at $187,685,000 after purchasing an additional 825,522 shares during the period. Geode Capital Management LLC raised its holdings in shares of Lemonade by 4.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,297,943 shares of the company’s stock worth $56,871,000 after buying an additional 60,853 shares in the last quarter. BIT Capital GmbH lifted its position in shares of Lemonade by 69.3% during the 3rd quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock worth $67,145,000 after buying an additional 513,424 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Lemonade by 28.1% during the 2nd quarter. Bank of America Corp DE now owns 993,669 shares of the company’s stock worth $43,533,000 after buying an additional 217,913 shares during the period. Institutional investors own 80.30% of the company’s stock.

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.