Insider Selling: Lemonade (NYSE:LMND) Insider Sells 2,249 Shares

Lemonade, Inc. (NYSE:LMND) insider John Peters sold 2,249 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $54.45, for a total value of $122,458.05. Following the transaction, the insider owned 73,834 shares of the company’s stock, valued at $4,020,261.30. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, September 3rd, John Peters sold 859 shares of Lemonade stock. The stock was sold at an average price of $54.63, for a total transaction of $46,927.17.
• On Thursday, August 13th, John Peters sold 11,000 shares of Lemonade stock. The shares were sold at an average price of $52.55, for a total transaction of $578,050.00.
• On Monday, July 6th, John Peters sold 3,444 shares of Lemonade stock. The shares were sold at an average price of $79.00, for a total transaction of $272,076.00.

Lemonade Stock Performance

Shares of NYSE:LMND traded down $2.82 on Tuesday, reaching $50.59. The company’s stock had a trading volume of 1,242,342 shares, compared to its average volume of 1,882,510. Lemonade, Inc. has a 52-week low of $46.16 and a 52-week high of $99.90. The company has a market cap of $3.92 billion, a P/E ratio of -27.64 and a beta of 1.87. The company has a 50-day simple moving average of $58.82 and a 200 day simple moving average of $58.60.

Lemonade (NYSE:LMND) last announced its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.56). Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The firm had revenue of $294.40 million for the quarter, compared to analysts’ expectations of $291.01 million. During the same period in the prior year, the company earned ($0.60) EPS. The business’s revenue was up 79.4% compared to the same quarter last year. On average, equities research analysts forecast that Lemonade, Inc. will post -1.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Morgan Stanley decreased their price target on Lemonade from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Piper Sandler dropped their price objective on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Wall Street Zen cut shares of Lemonade from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.50.

Institutional Investors Weigh In On Lemonade

A number of institutional investors and hedge funds have recently modified their holdings of LMND. BlackRock Inc. purchased a new stake in Lemonade in the second quarter worth $393,408,000. Bank of America Corp DE lifted its position in shares of Lemonade by 52.1% during the first quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock worth $22,591,000 after purchasing an additional 123,484 shares during the last quarter. Lido Advisors LLC purchased a new stake in shares of Lemonade during the first quarter valued at $1,318,000. Clear Street Group Inc. purchased a new stake in shares of Lemonade during the fourth quarter valued at $2,448,000. Finally, Halter Ferguson Financial Inc. grew its holdings in shares of Lemonade by 4.3% in the fourth quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock worth $42,769,000 after purchasing an additional 24,957 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

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.