Adina Eckstein Sells 29,237 Shares of Lemonade (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) COO Adina Eckstein sold 29,237 shares of Lemonade stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $77.17, for a total value of $2,256,219.29. Following the completion of the transaction, the chief operating officer directly owned 204,229 shares of the company’s stock, valued at $15,760,351.93. This represents a 12.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Adina Eckstein also recently made the following trade(s):

• On Monday, December 8th, Adina Eckstein sold 41,557 shares of Lemonade stock. The stock was sold at an average price of $78.95, for a total value of $3,280,925.15.
• On Monday, November 10th, Adina Eckstein sold 5,988 shares of Lemonade stock. The stock was sold at an average price of $78.00, for a total value of $467,064.00.
• On Friday, November 7th, Adina Eckstein sold 40,000 shares of Lemonade stock. The stock was sold at an average price of $73.02, for a total transaction of $2,920,800.00.

Lemonade Trading Down 0.9%

Lemonade stock traded down $0.69 during trading hours on Wednesday, reaching $78.49. 4,520,703 shares of the stock were exchanged, compared to its average volume of 2,435,101. Lemonade, Inc. has a twelve month low of $24.31 and a twelve month high of $83.77. The company has a market cap of $5.87 billion, a P/E ratio of -32.84 and a beta of 2.12. The stock has a 50 day moving average of $64.15 and a two-hundred day moving average of $52.42.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LMND. Citigroup reiterated a “market outperform” rating on shares of Lemonade in a research note on Monday, November 24th. BMO Capital Markets raised their price objective on Lemonade from $23.00 to $42.00 and gave the company an “underperform” rating in a research note on Monday, August 18th. Piper Sandler decreased their target price on Lemonade from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Cantor Fitzgerald raised shares of Lemonade to a “strong-buy” rating in a report on Wednesday, August 13th. Finally, JMP Securities set a $80.00 price target on shares of Lemonade in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.57.

Hedge Funds Weigh In On Lemonade

Large investors have recently bought and sold shares of the company. Strategic Advocates LLC acquired a new stake in Lemonade during the 3rd quarter worth approximately $33,000. CIBC Bancorp USA Inc. bought a new position in shares of Lemonade during the third quarter valued at $318,000. Advisory Services Network LLC acquired a new position in shares of Lemonade during the third quarter worth $216,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Lemonade by 11.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 17,769 shares of the company’s stock worth $966,000 after purchasing an additional 1,844 shares during the period. Finally, Worth Venture Partners LLC bought a new stake in shares of Lemonade in the third quarter worth $297,000. 80.30% of the stock is currently owned by institutional investors.

Lemonade Company Profile

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.