Insider Selling: Lemonade, Inc. (NYSE:LMND) COO Sells $225,000.00 in Stock

Lemonade, Inc. (NYSE:LMND) COO Adina Eckstein sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at $8,534,385. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lemonade Stock Down 1.7%

Shares of LMND stock opened at $42.09 on Friday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -13.84 and a beta of 2.14. The business’s fifty day moving average is $34.58 and its 200 day moving average is $34.42. Lemonade, Inc. has a twelve month low of $14.90 and a twelve month high of $53.85.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. Lemonade’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.67) earnings per share. Equities research analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lemonade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in Lemonade by 6.8% in the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock worth $215,000 after purchasing an additional 375 shares during the period. Nisa Investment Advisors LLC grew its stake in Lemonade by 3.6% in the first quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company’s stock worth $346,000 after purchasing an additional 380 shares during the period. Summit Investment Advisors Inc. grew its stake in Lemonade by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company’s stock worth $200,000 after purchasing an additional 423 shares during the period. Bank of New York Mellon Corp grew its stake in Lemonade by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock worth $5,545,000 after purchasing an additional 442 shares during the period. Finally, US Bancorp DE grew its stake in Lemonade by 28.3% in the first quarter. US Bancorp DE now owns 2,406 shares of the company’s stock worth $76,000 after purchasing an additional 531 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LMND shares. Morgan Stanley cut Lemonade from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $35.00 to $24.00 in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their target price on Lemonade from $25.00 to $22.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Lemonade presently has an average rating of “Hold” and a consensus target price of $28.17.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. 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.