Lemonade (NYSE:LMND) Shares Gap Down - Should You Sell?

Lemonade, Inc. (NYSE:LMND - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $34.44, but opened at $32.61. Lemonade shares last traded at $32.63, with a volume of 417,850 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JMP Securities boosted their price objective on Lemonade from $40.00 to $60.00 and gave the company a "market outperform" rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods lowered shares of Lemonade from a "market perform" rating to an "underperform" rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Piper Sandler raised their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, November 21st. BMO Capital Markets boosted their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an "underperform" rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group reduced their target price on shares of Lemonade from $15.00 to $14.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.43.

Lemonade Trading Down 6.1 %

The stock has a market cap of $2.31 billion, a PE ratio of -10.63 and a beta of 2.17. The business's 50-day moving average price is $39.66 and its 200-day moving average price is $25.66.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same period in the previous year, the company earned ($0.88) earnings per share. The business's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts predict that Lemonade, Inc. will post -3.04 earnings per share for the current year.

Insider Activity at Lemonade

In related news, Director Maria Angelidis-Smith acquired 18,512 shares of the stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the purchase, the director now owns 18,512 shares of the company's stock, valued at approximately $507,599.04. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maya Prosor sold 20,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.00, for a total value of $600,000.00. Following the completion of the transaction, the insider now directly owns 59,286 shares in the company, valued at approximately $1,778,580. The trade was a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 900,499 shares of company stock valued at $39,114,376 in the last ninety days. Corporate insiders own 12.50% of the company's stock.

Hedge Funds Weigh In On Lemonade

A number of institutional investors have recently bought and sold shares of LMND. State Street Corp raised its position in Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company's stock valued at $20,343,000 after acquiring an additional 14,028 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Lemonade in the 2nd quarter worth $14,181,000. Landscape Capital Management L.L.C. lifted its stake in shares of Lemonade by 17.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company's stock valued at $5,308,000 after purchasing an additional 48,260 shares during the last quarter. FMR LLC increased its position in shares of Lemonade by 93.0% during the third quarter. FMR LLC now owns 318,321 shares of the company's stock valued at $5,249,000 after acquiring an additional 153,362 shares during the last quarter. Finally, General Equity Holdings LP purchased a new position in shares of Lemonade in the second quarter valued at approximately $5,198,000. 80.30% of the stock is 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.