Lemonade (NYSE:LMND) Shares Down 3.3% – Here’s Why

Shares of Lemonade, Inc. (NYSE:LMND) traded down 3.3% during mid-day trading on Monday . The company traded as low as $45.00 and last traded at $45.48. 298,717 shares were traded during trading, a decline of 83% from the average session volume of 1,790,743 shares. The stock had previously closed at $47.03.

Wall Street Analyst Weigh In

LMND has been the subject of a number of recent analyst reports. Jefferies Financial Group reduced their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler increased their target price on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. BMO Capital Markets lifted their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Finally, JMP Securities upped their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.43.

Lemonade Trading Down 4.5 %

The firm has a market capitalization of $3.21 billion, a PE ratio of -14.12 and a beta of 2.08. The stock’s 50 day moving average price is $29.06 and its two-hundred day moving average price is $21.69.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.88) earnings per share. Analysts expect that Lemonade, Inc. will post -3.04 earnings per share for the current year.

Insider Transactions at Lemonade

In other news, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at $7,586,120. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maya Prosor sold 30,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $50.00, for a total value of $1,500,000.00. Following the transaction, the insider now owns 29,286 shares in the company, valued at $1,464,300. This trade represents a 50.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,892 shares of company stock worth $5,283,045 over the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently made changes to their positions in LMND. Tidal Investments LLC raised its position in shares of Lemonade by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after buying an additional 2,017 shares during the period. Barclays PLC increased its stake in Lemonade by 292.5% during the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after acquiring an additional 65,144 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in shares of Lemonade in the 3rd quarter worth about $614,000. State Street Corp lifted its stake in shares of Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after purchasing an additional 14,028 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.