Lemonade (NYSE:LMND) Stock Price Down 6.9%

Lemonade, Inc. (NYSE:LMND – Get Rating)’s share price was down 6.9% during mid-day trading on Wednesday . The stock traded as low as $16.74 and last traded at $16.74. Approximately 528,644 shares changed hands during trading, a decline of 60% from the average daily volume of 1,306,863 shares. The stock had previously closed at $17.99.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Lemonade from $13.00 to $11.50 and set an “underperform” rating on the stock in a report on Monday, April 10th. Piper Sandler cut their price objective on shares of Lemonade from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, February 24th. Bank of America reduced their price target on shares of Lemonade from $14.00 to $12.00 in a research report on Thursday, May 4th. Finally, Barclays lifted their price target on shares of Lemonade from $16.00 to $17.00 in a research report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.06.

Lemonade Stock Down 5.4 %

The business’s 50 day moving average is $13.79 and its 200-day moving average is $15.65.

Lemonade (NYSE:LMND – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.19. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $88.20 million. Lemonade had a negative net margin of 93.89% and a negative return on equity of 33.54%. The business’s revenue was up 114.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. On average, analysts expect that Lemonade, Inc. will post -3.86 EPS for the current year.

Insider Buying and Selling

In other Lemonade news, CFO Timothy E. Bixby sold 1,945 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $14.94, for a total transaction of $29,058.30. Following the completion of the sale, the chief financial officer now owns 270,055 shares in the company, valued at $4,034,621.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 36.70% of the company’s stock.

Institutional Trading of Lemonade

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in Lemonade by 1,626.7% during the third quarter. IFP Advisors Inc now owns 1,813 shares of the company’s stock valued at $127,000 after purchasing an additional 1,708 shares during the last quarter. Zacks Investment Management bought a new stake in Lemonade during the third quarter valued at $1,225,000. Asset Management One Co. Ltd. increased its stake in Lemonade by 44.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,519 shares of the company’s stock valued at $49,000 after purchasing an additional 1,075 shares during the last quarter. Allen Operations LLC acquired a new position in shares of Lemonade during the third quarter valued at $226,000. Finally, Creative Planning boosted its holdings in shares of Lemonade by 28.1% during the third quarter. Creative Planning now owns 21,924 shares of the company’s stock valued at $464,000 after acquiring an additional 4,811 shares during the period. Institutional investors own 67.70% of the company’s stock.

Lemonade Company Profile

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Lemonade, Inc provides various insurance products in the United States and Europe. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies.