Lemonade (NYSE:LMND) Trading Down 5.1% - Here's Why

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 changed 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.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LMND shares. Morgan Stanley downgraded Lemonade from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $35.00 to $24.00 in a report on Tuesday, April 8th. BMO Capital Markets lifted their price objective on shares of 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 reaffirmed an "underperform" rating and issued a $26.00 price target (up from $22.00) on shares of Lemonade in a report on Tuesday, July 1st. Finally, Wall Street Zen raised Lemonade from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.17.

Lemonade Trading Down 4.2%

The company has a market cap of $2.94 billion, a PE ratio of -13.21 and a beta of 2.20. The firm's 50-day simple moving average is $36.83 and its two-hundred day simple moving average is $34.49.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings data 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 net margin of 38.90% and a negative return on equity of 36.72%. Lemonade's revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.67) EPS. As a group, analysts predict that Lemonade, Inc. will post -3.03 EPS for the current year.

Insider Activity

In other news, insider John Sheldon Peters sold 6,543 shares of the stock in a transaction 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 sale, the insider owned 106,115 shares in the company, valued at $4,775,175. This represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adina Eckstein sold 5,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the chief operating officer directly owned 189,653 shares of the company's stock, valued at approximately $8,534,385. This trade represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,509,545 shares of company stock valued at $78,775,964. Company insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in shares of Lemonade by 6.8% in the 4th 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 raised its position in 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 acquiring an additional 380 shares in the last quarter. Summit Investment Advisors Inc. lifted 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 valued at $200,000 after acquiring an additional 423 shares during the period. Bank of New York Mellon Corp lifted its holdings in Lemonade by 0.3% in 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 acquiring an additional 442 shares during the period. Finally, US Bancorp DE grew its stake in shares of Lemonade by 28.3% during the 1st quarter. US Bancorp DE now owns 2,406 shares of the company's stock worth $76,000 after purchasing an additional 531 shares during the period. 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.

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