Lemonade (NYSE:LMND) Stock Price Down 5.6% - What's Next?

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

Analyst Ratings Changes

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

Lemonade Price Performance

The stock has a fifty day moving average of $33.67 and a 200 day moving average of $34.38. The firm has a market capitalization of $3.08 billion, a P/E ratio of -13.84 and a beta of 2.14.

Lemonade (NYSE:LMND - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share 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%. During the same quarter in the previous year, the company earned ($0.67) earnings per share. The company's revenue was up 27.0% on a year-over-year basis. Equities analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 1,494 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $35.25, for a total value of $52,663.50. Following the transaction, the insider now owns 106,115 shares in the company, valued at approximately $3,740,553.75. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 398,215 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $30.27, for a total value of $12,053,968.05. Following the transaction, the insider now directly owns 9,617,769 shares of the company's stock, valued at $291,129,867.63. The trade was a 3.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,498,002 shares of company stock worth $78,256,529. Insiders own 12.50% of the company's stock.

Institutional Trading of Lemonade

Several large investors have recently added to or reduced their stakes in LMND. Jones Financial Companies Lllp increased its position in shares of Lemonade by 6.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company's stock valued at $215,000 after buying an additional 375 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Lemonade by 3.6% during the first quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company's stock valued at $346,000 after purchasing an additional 380 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Lemonade by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company's stock worth $200,000 after purchasing an additional 423 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Lemonade by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company's stock valued at $5,545,000 after buying an additional 442 shares during the period. Finally, US Bancorp DE grew its position in shares of Lemonade by 28.3% in the 1st quarter. US Bancorp DE now owns 2,406 shares of the company's stock worth $76,000 after buying an additional 531 shares during the period. Institutional investors own 80.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.