Lemonade, Inc. (NYSE:LMND - Get Free Report) fell 7.4% during mid-day trading on Tuesday . The company traded as low as $39.33 and last traded at $38.85. 1,373,452 shares were traded during trading, a decline of 32% from the average session volume of 2,020,429 shares. The stock had previously closed at $41.97.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on LMND. Keefe, Bruyette & Woods lowered their price target on Lemonade from $25.00 to $22.00 and set an "underperform" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley downgraded shares of Lemonade from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th. Finally, Piper Sandler reduced their price target on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Lemonade presently has an average rating of "Hold" and a consensus price target of $28.17.
Read Our Latest Stock Report on LMND
Lemonade Trading Down 7.9%
The company's 50 day moving average price is $31.90 and its 200-day moving average price is $34.46. The company has a market capitalization of $2.83 billion, a PE ratio of -12.72 and a beta of 2.14.
Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. During the same quarter in the previous year, the firm earned ($0.67) EPS. The company's revenue was up 27.0% compared to the same quarter last year. As a group, analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current year.
Insider Buying and Selling
In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total value of $1,569,195.20. Following the transaction, the insider now owns 10,452,476 shares in the company, valued at $389,041,156.72. The trade was a 0.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Sheldon Peters sold 1,494 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $35.25, for a total transaction of $52,663.50. Following the completion of the transaction, the insider now owns 106,115 shares in the company, valued at $3,740,553.75. This represents a 1.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,744,737 shares of company stock valued at $87,411,365. Company insiders own 14.70% of the company's stock.
Institutional Investors Weigh In On Lemonade
A number of institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in shares of Lemonade by 2.6% in the 1st quarter. Rhumbline Advisers now owns 77,706 shares of the company's stock valued at $2,442,000 after purchasing an additional 2,001 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Lemonade in the 1st quarter valued at about $1,455,000. Goldman Sachs Group Inc. raised its stake in Lemonade by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock worth $19,244,000 after acquiring an additional 41,759 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Lemonade during the first quarter worth about $638,000. Finally, NewEdge Advisors LLC acquired a new stake in Lemonade during the first quarter worth about $35,000. Institutional investors and hedge funds own 80.30% of the company's stock.
About Lemonade
(
Get Free Report)
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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