Lemonade (NYSE:LMND) Stock Price Down 5.6% Following Insider Selling

Lemonade, Inc. (NYSE:LMND - Get Free Report) shares traded down 5.6% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $42.81 and last traded at $42.41. Approximately 385,124 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,060,623 shares. The stock had previously closed at $44.93.

Specifically, insider John Sheldon Peters sold 6,543 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $45.00, for a total transaction of $294,435.00. Following the completion of the sale, the insider now owns 106,115 shares of the company's stock, valued at $4,775,175. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Adina Eckstein sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total value 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. This trade represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LMND. Morgan Stanley lowered Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $35.00 to $24.00 in a research note on Tuesday, April 8th. 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 research note on Tuesday, April 22nd. Four equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $28.17.

Lemonade Trading Down 1.7%

The company has a market capitalization of $3.08 billion, a PE ratio of -13.84 and a beta of 2.14. The company has a fifty day simple moving average of $34.58 and a 200-day simple moving average of $34.42.

Lemonade (NYSE:LMND - Get Free Report) last posted 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 net margin of 38.90% and a negative return on equity of 36.72%. The firm's revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.67) earnings per share. On average, equities analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently modified their holdings of LMND. JPMorgan Chase & Co. grew its holdings in shares of Lemonade by 2,627.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock worth $49,494,000 after purchasing an additional 1,299,891 shares during the period. Vanguard Group Inc. grew its position in Lemonade by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company's stock valued at $192,931,000 after acquiring an additional 794,952 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Lemonade during the fourth quarter worth about $22,066,000. Voloridge Investment Management LLC acquired a new stake in shares of Lemonade during the fourth quarter worth about $21,310,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Lemonade in the fourth quarter valued at approximately $15,412,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Company Profile

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.