Insider Selling: Lemonade, Inc. (NYSE:LMND) COO Sells 23,644 Shares of Stock

Lemonade, Inc. (NYSE:LMND) COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value of $945,760.00. Following the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $7,586,120. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Adina Eckstein also recently made the following trade(s):

• On Thursday, November 21st, Adina Eckstein sold 23,644 shares of Lemonade stock. The shares were sold at an average price of $50.00, for a total value of $1,182,200.00.

Lemonade Trading Up 8.1 %

Shares of NYSE LMND traded up $3.78 during trading hours on Thursday, hitting $50.36. 9,791,625 shares of the company traded hands, compared to its average volume of 1,757,450. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -16.57 and a beta of 1.68. The company’s 50 day moving average price is $22.36 and its 200 day moving average price is $19.29. Lemonade, Inc. has a 12 month low of $14.03 and a 12 month high of $52.22.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) EPS. Equities analysts anticipate that Lemonade, Inc. will post -3.05 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday. Jefferies Financial Group reduced their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler lifted their price objective on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and a consensus target price of $27.57.

Hedge Funds Weigh In On Lemonade

Several large investors have recently modified their holdings of LMND. State Board of Administration of Florida Retirement System boosted its holdings in Lemonade by 18.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock valued at $283,000 after acquiring an additional 2,710 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lemonade by 9.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after buying an additional 2,196 shares during the period. Tidal Investments LLC purchased a new stake in shares of Lemonade in the 1st quarter worth $718,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Lemonade in the 2nd quarter worth $180,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Lemonade by 12.1% in the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after buying an additional 1,915 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.