John Sheldon Peters Sells 11,000 Shares of Lemonade (NYSE:LMND) Stock

Key Points

• Insider sale: John Sheldon Peters sold 11,000 Lemonade shares at an average price of $52.55, generating $578,050 and reducing his stake by 12.51% to 76,942 shares.
• Stock performance and results: LMND fell 5.2% to $49.88, near its 52-week low of $46.16. Lemonade matched quarterly EPS expectations at a loss of $0.56 while revenue rose 79.4% year over year to $294.4 million.
• Analyst outlook: Analysts maintain a consensus “Hold” rating with an average price target of $64.11; institutional investors own approximately 80.3% of the company.

Lemonade, Inc. (NYSE:LMND - Get Free Report) insider John Sheldon Peters sold 11,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the sale, the insider directly owned 76,942 shares of the company's stock, valued at $4,043,302.10. This trade represents a 12.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

John Sheldon Peters also recently made the following trade(s):

• On Monday, July 6th, John Sheldon Peters sold 3,444 shares of Lemonade stock. The shares were sold at an average price of $79.00, for a total value of $272,076.00.
• On Thursday, June 4th, John Sheldon Peters sold 3,608 shares of Lemonade stock. The stock was sold at an average price of $52.94, for a total value of $191,007.52.
• On Wednesday, June 3rd, John Sheldon Peters sold 1,735 shares of Lemonade stock. The stock was sold at an average price of $53.17, for a total value of $92,249.95.

Lemonade Stock Down 5.2%

LMND stock traded down $2.76 during midday trading on Monday, reaching $49.88. 1,222,511 shares of the company's stock traded hands, compared to its average volume of 1,976,913. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -27.26 and a beta of 1.84. The firm's fifty day moving average price is $60.43 and its 200-day moving average price is $61.14. Lemonade, Inc. has a 52 week low of $46.16 and a 52 week high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, hitting the consensus estimate of ($0.56). The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The business's revenue was up 79.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.60) earnings per share. Analysts forecast that Lemonade, Inc. will post -1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LMND shares. Keefe, Bruyette & Woods upgraded Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 target price on the stock in a report on Thursday, July 30th. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Morgan Stanley reaffirmed an "equal weight" rating and issued a $75.00 price objective on shares of Lemonade in a research report on Wednesday, July 8th. TD Cowen reiterated a "hold" rating on shares of Lemonade in a research note on Monday, June 8th. Finally, Cantor Fitzgerald reissued 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, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.11.

Institutional Investors Weigh In On Lemonade

A number of hedge funds have recently made changes to their positions in the business. Ma Investment Partnership LP purchased a new position in shares of Lemonade in the 2nd quarter worth about $6,505,000. Corient Private Wealth LP purchased a new stake in Lemonade during the second quarter worth about $1,119,000. Parallax Volatility Advisers L.P. purchased a new stake in Lemonade during the second quarter worth about $1,637,000. Bank of America Corp DE bought a new stake in Lemonade in the second quarter worth about $11,569,000. Finally, Odyssean LLC bought a new stake in Lemonade in the second quarter worth about $1,358,000. 80.30% of the stock is currently owned by institutional investors.

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.

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