Insider Selling: Lemonade, Inc. (NYSE:LMND) COO Sells 5,000 Shares of Stock

Key Points

• Lemonade, Inc. COO Adina Eckstein sold 5,000 shares of the company's stock for a total of $245,000, reducing her ownership by 2.57% to 189,653 shares.
• The company's stock price fell by 7.4%, trading at $47.30, despite reporting better-than-expected earnings of ($0.60) EPS, surpassing analyst estimates of ($0.81).
• A number of analysts have issued varying ratings on Lemonade's stock, with five rating it as a sell, and an average price target of $30.50.

Lemonade, Inc. (NYSE:LMND - Get Free Report) COO Adina Eckstein sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total value of $245,000.00. Following the sale, the chief operating officer owned 189,653 shares in the company, valued at approximately $9,292,997. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, June 23rd, Adina Eckstein sold 5,000 shares of Lemonade stock. The shares were sold at an average price of $45.00, for a total value of $225,000.00.

Lemonade Stock Down 7.4%

NYSE:LMND traded down $3.77 during midday trading on Thursday, hitting $47.30. The stock had a trading volume of 4,193,283 shares, compared to its average volume of 2,292,768. Lemonade, Inc. has a one year low of $14.90 and a one year high of $53.85. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -16.71 and a beta of 2.19. The stock has a 50-day moving average of $40.49 and a 200 day moving average of $35.03.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.81) by $0.21. Lemonade had a negative return on equity of 35.34% and a negative net margin of 33.96%. The business had revenue of $164.10 million for the quarter, compared to the consensus estimate of $160.88 million. During the same period last year, the business posted ($0.81) EPS. The business's revenue was up 34.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LMND shares. Wall Street Zen downgraded Lemonade from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $26.00 target price (up previously from $22.00) on shares of Lemonade in a research note on Tuesday, July 1st. Morgan Stanley reaffirmed an "underweight" rating and set a $26.00 target price (up previously from $24.00) on shares of Lemonade in a research note on Monday, July 14th. Finally, BMO Capital Markets upped their target price on Lemonade from $15.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, July 2nd. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Lemonade currently has a consensus rating of "Reduce" and an average price target of $30.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in Lemonade by 7.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company's stock worth $1,137,000 after acquiring an additional 2,209 shares during the period. Invesco Ltd. lifted its position in Lemonade by 14.0% during the 4th quarter. Invesco Ltd. now owns 76,718 shares of the company's stock worth $2,814,000 after acquiring an additional 9,419 shares during the period. GAMMA Investing LLC lifted its position in Lemonade by 35,901.8% during the 1st quarter. GAMMA Investing LLC now owns 19,801 shares of the company's stock worth $630,000 after acquiring an additional 19,746 shares during the period. Northern Trust Corp lifted its position in Lemonade by 23.7% during the 4th quarter. Northern Trust Corp now owns 562,502 shares of the company's stock worth $20,633,000 after acquiring an additional 107,592 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Lemonade by 3.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company's stock valued at $346,000 after buying an additional 380 shares during the period. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

About Lemonade

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.

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