Lemonade, Inc. (NYSE:LMND) COO Sells $225,000.00 in Stock

Lemonade, Inc. (NYSE:LMND - Get Free Report) COO Adina Eckstein sold 5,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the sale, the chief operating officer now owns 189,653 shares of the company's stock, valued at approximately $8,534,385. The trade was a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lemonade Price Performance

Shares of NYSE LMND traded down $3.09 during mid-day trading on Wednesday, reaching $41.84. 1,897,441 shares of the company traded hands, compared to its average volume of 2,066,038. Lemonade, Inc. has a fifty-two week low of $14.90 and a fifty-two week high of $53.85. The firm has a market cap of $3.07 billion, a PE ratio of -13.78 and a beta of 2.14. The stock has a fifty day simple moving average of $33.67 and a 200-day simple moving average of $34.38.

Lemonade (NYSE:LMND - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. The company's revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.67) earnings per share. As a group, analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Institutional Trading of Lemonade

A number of hedge funds have recently bought and sold shares of LMND. Rhumbline Advisers increased its position in shares of Lemonade by 2.1% in the fourth quarter. Rhumbline Advisers now owns 75,705 shares of the company's stock worth $2,777,000 after acquiring an additional 1,561 shares in the last quarter. New York State Common Retirement Fund raised its stake in Lemonade by 41.3% during the 4th quarter. New York State Common Retirement Fund now owns 18,128 shares of the company's stock valued at $665,000 after purchasing an additional 5,300 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Lemonade in the fourth quarter valued at $67,000. Bank of New York Mellon Corp boosted its position in shares of Lemonade by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company's stock worth $5,545,000 after buying an additional 442 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Lemonade in the fourth quarter worth $640,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on LMND. Piper Sandler cut their target price on Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods reduced their target price on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley cut shares of Lemonade from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th. Four analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Lemonade has an average rating of "Hold" and an average price target of $28.17.

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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