Lemonade (NYSE:LMND) Stock Price Down 6.8% – Time to Sell?

Lemonade, Inc. (NYSE:LMND) was down 6.8% during mid-day trading on Wednesday . The stock traded as low as $64.04 and last traded at $63.92. 369,612 shares traded hands during trading, a decline of 82% from the average daily volume of 2,016,360 shares. The stock had previously closed at $68.62.

Analysts Set New Price Targets

Several analysts have commented on LMND shares. Piper Sandler raised their price objective on shares of Lemonade from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. TD Cowen reiterated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Morgan Stanley reissued an “equal weight” rating and issued a $75.00 target price on shares of Lemonade in a research report on Wednesday, July 8th. Citizens Jmp lowered their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and a consensus price target of $66.78.

Lemonade Price Performance

The business has a 50 day moving average price of $60.78 and a 200 day moving average price of $64.64. The stock has a market capitalization of $4.93 billion, a PE ratio of -34.33 and a beta of 1.79.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The company had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $251.51 million. During the same quarter in the previous year, the business posted ($0.86) EPS. Lemonade’s revenue was up 70.6% compared to the same quarter last year. On average, equities analysts expect that Lemonade, Inc. will post -1.7 earnings per share for the current year.

Insider Activity at Lemonade

In related news, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the transaction, the insider directly owned 187,573 shares in the company, valued at $9,973,256.41. The trade was a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52. Following the completion of the transaction, the insider owned 81,386 shares of the company’s stock, valued at approximately $4,308,574.84. The trade was a 4.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders sold 10,007 shares of company stock worth $620,201. Insiders own 12.20% of the company’s stock.

Institutional Trading of Lemonade

A number of institutional investors and hedge funds have recently modified their holdings of LMND. Caitong International Asset Management Co. Ltd raised its stake in shares of Lemonade by 8,080.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Lemonade during the fourth quarter valued at $33,000. Torren Management LLC purchased a new stake in shares of Lemonade during the fourth quarter valued at $35,000. NewEdge Advisors LLC purchased a new stake in shares of Lemonade during the first quarter valued at $35,000. Finally, Strive Financial Group LLC bought a new stake in Lemonade in the 4th quarter worth about $38,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

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.