Lemonade, Inc. (NYSE:LMND) Director Michael A. Eisenberg Sells 12,000 Shares

Lemonade, Inc. (NYSE:LMND) Director Michael A. Eisenberg sold 12,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $40.15, for a total value of $481,800.00. Following the completion of the sale, the director now owns 94,670 shares of the company’s stock, valued at approximately $3,801,000.50. The trade was a 11.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Lemonade Stock Down 1.7 %

LMND opened at $43.00 on Wednesday. The company has a market capitalization of $3.07 billion, a PE ratio of -14.14 and a beta of 2.09. The firm has a 50-day simple moving average of $32.74 and a two-hundred day simple moving average of $22.98. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The company had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.88) earnings per share. As a group, sell-side analysts expect that Lemonade, Inc. will post -3.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP purchased a new stake in Lemonade during the second quarter valued at $14,181,000. General Equity Holdings LP purchased a new stake in shares of Lemonade during the 2nd quarter valued at about $5,198,000. FMR LLC raised its position in shares of Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after buying an additional 153,362 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Lemonade by 388.7% in the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after acquiring an additional 131,784 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Lemonade in the third quarter worth about $1,571,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMND has been the subject of several analyst reports. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. JMP Securities increased their price objective on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group decreased their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler upped their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and raised their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Lemonade has a consensus rating of “Hold” and an average target price of $30.43.

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.