Lemonade (NYSE:LMND) Insider John Sheldon Peters Sells 1,735 Shares of Stock

Lemonade, Inc. (NYSE:LMND) insider John Sheldon Peters sold 1,735 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $92,249.95. Following the completion of the transaction, the insider directly owned 84,994 shares in the company, valued at $4,519,130.98. This trade represents a 2.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Thursday, June 4th, John Sheldon Peters sold 3,608 shares of Lemonade stock. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52.

Lemonade Stock Performance

LMND stock opened at $51.46 on Friday. Lemonade, Inc. has a one year low of $35.70 and a one year high of $99.90. The company’s fifty day moving average price is $59.03 and its 200-day moving average price is $67.43. The company has a market capitalization of $3.95 billion, a PE ratio of -27.52 and a beta of 1.83.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. During the same quarter in the previous year, the firm earned ($0.86) earnings per share. The company’s quarterly revenue was up 70.6% compared to the same quarter last year. On average, research analysts predict that Lemonade, Inc. will post -1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Lemonade

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Lemonade by 52.1% during the first quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock valued at $22,591,000 after purchasing an additional 123,484 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Lemonade in the first quarter valued at $814,000. California State Teachers Retirement System raised its stake in shares of Lemonade by 22.5% in the first quarter. California State Teachers Retirement System now owns 72,887 shares of the company’s stock valued at $4,569,000 after acquiring an additional 13,411 shares during the period. Royal Bank of Canada raised its stake in shares of Lemonade by 148.5% in the first quarter. Royal Bank of Canada now owns 31,328 shares of the company’s stock valued at $1,964,000 after acquiring an additional 18,721 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Lemonade by 9.3% in the first quarter. The Manufacturers Life Insurance Company now owns 35,439 shares of the company’s stock valued at $2,221,000 after acquiring an additional 3,008 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on LMND. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Tuesday, April 21st. Morgan Stanley decreased their price target on shares of Lemonade from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Wolfe Research set a $44.00 price target on shares of Lemonade in a research note on Tuesday, February 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Finally, Truist Financial decreased their price target on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.89.

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.