Insider Selling: Lemonade (NYSE:LMND) Insider Sells 859 Shares of Stock

Key Points

• Lemonade insider John Peters sold 859 shares at an average price of $54.63, generating $46,927.17. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving him with 76,083 shares.
• Lemonade shares fell 5.3% to $50.59, near the lower end of their 52-week range. The company remains unprofitable, although quarterly revenue rose 79.4% year over year to $294.4 million and earnings matched estimates.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $64.50. Institutional investors own approximately 80.3% of Lemonade’s outstanding shares.

Lemonade, Inc. (NYSE:LMND - Get Free Report) insider John Peters sold 859 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total value of $46,927.17. Following the sale, the insider directly owned 76,083 shares of the company's stock, valued at $4,156,414.29. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Friday, September 4th, John Peters sold 2,249 shares of Lemonade stock. The shares were sold at an average price of $54.45, for a total value of $122,458.05.
• 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 value of $578,050.00.
• On Monday, July 6th, John Peters sold 3,444 shares of Lemonade stock. The stock was sold at an average price of $79.00, for a total value of $272,076.00.

Lemonade Stock Down 5.3%

Shares of NYSE LMND traded down $2.82 during mid-day trading on Tuesday, hitting $50.59. 1,242,342 shares of the company were exchanged, compared to its average volume of 1,882,510. The stock has a 50 day simple moving average of $58.82 and a 200-day simple moving average of $58.60. Lemonade, Inc. has a 1-year low of $46.16 and a 1-year high of $99.90. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -27.64 and a beta of 1.87.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.56). The company had revenue of $294.40 million for the quarter, compared to analysts' expectations of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. Lemonade's revenue was up 79.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.60) EPS. Analysts anticipate that Lemonade, Inc. will post -1.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Lemonade in a research report on Friday, July 17th. Morgan Stanley dropped their target price on Lemonade from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 19th. Cantor Fitzgerald reissued an "overweight" rating on shares of Lemonade in a research note on Tuesday, May 26th. Wall Street Zen cut Lemonade from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Finally, Keefe, Bruyette & Woods upgraded Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 price target on the stock in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Lemonade presently has an average rating of "Hold" and a consensus target price of $64.50.

Institutional Trading of Lemonade

Several hedge funds and other institutional investors have recently made changes to their positions in LMND. BlackRock Inc. purchased a new stake in Lemonade during the second quarter worth about $393,408,000. California State Teachers Retirement System increased its holdings in Lemonade by 6,592.2% in the second quarter. California State Teachers Retirement System now owns 4,877,709 shares of the company's stock valued at $317,295,000 after buying an additional 4,804,822 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lemonade by 186.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company's stock valued at $105,644,000 after acquiring an additional 965,321 shares during the period. Geode Capital Management LLC lifted its position in shares of Lemonade by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company's stock valued at $102,400,000 after acquiring an additional 67,562 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Lemonade by 28.1% during the 2nd quarter. Bank of America Corp DE now owns 993,669 shares of the company's stock worth $43,533,000 after acquiring an additional 217,913 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company's stock.

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.

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