Lemonade (NYSE:LMND) Stock Price Down 5.1% - Should You Sell?

Lemonade, Inc. (NYSE:LMND - Get Free Report) was down 5.1% during mid-day trading on Thursday . The stock traded as low as $39.54 and last traded at $39.67. Approximately 1,148,169 shares traded hands during trading, a decline of 46% from the average daily volume of 2,108,943 shares. The stock had previously closed at $41.80.

Analysts Set New Price Targets

Several equities analysts have issued reports on LMND shares. BMO Capital Markets boosted their target price on Lemonade from $15.00 to $23.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $26.00 target price (up previously from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Wall Street Zen upgraded Lemonade from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Morgan Stanley cut 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 report on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $30.17.

Lemonade Stock Performance

The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -12.95 and a beta of 2.20. The business has a fifty day moving average of $37.05 and a two-hundred day moving average of $34.49.

Lemonade (NYSE:LMND - Get Free Report) last released 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 period last year, the firm posted ($0.67) earnings per share. The business's quarterly revenue was up 27.0% compared to the same quarter last year. On average, equities research analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insider Activity at Lemonade

In related news, COO Adina Eckstein sold 5,000 shares of the company'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 owned 189,653 shares of the company's stock, valued at approximately $8,534,385. This represents a 2.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Sheldon Peters sold 6,543 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total value of $294,435.00. Following the completion of the sale, the insider directly owned 106,115 shares in the company, valued at approximately $4,775,175. The trade was a 5.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,509,545 shares of company stock valued at $78,775,964. 14.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of LMND. Bank of New York Mellon Corp lifted its stake in Lemonade by 0.3% in the 4th 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 in the last quarter. US Bancorp DE lifted its stake in shares of Lemonade by 574.5% during the 4th quarter. US Bancorp DE now owns 1,875 shares of the company's stock worth $69,000 after purchasing an additional 1,597 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Lemonade by 6.8% during the 4th quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company's stock worth $215,000 after purchasing an additional 375 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lemonade by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 452,164 shares of the company's stock worth $16,585,000 after purchasing an additional 3,867 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in shares of Lemonade during the 4th quarter worth $235,000. Hedge funds and other 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.