Lemonade (NYSE:LMND) Shares Gap Down – Should You Sell?

Shares of Lemonade, Inc. (NYSE:LMND) gapped down before the market opened on Wednesday . The stock had previously closed at $31.99, but opened at $27.12. Lemonade shares last traded at $30.27, with a volume of 3,135,188 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on LMND shares. JMP Securities increased their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Piper Sandler lifted their price target on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Finally, BMO Capital Markets raised their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $32.67.

Lemonade Trading Down 2.6 %

The firm has a 50-day moving average of $35.42 and a two-hundred day moving average of $29.17. The firm has a market capitalization of $2.23 billion, a PE ratio of -10.25 and a beta of 2.15.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. The firm had revenue of $148.80 million during the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Equities research analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total value of $304,022.34. Following the sale, the insider now directly owns 10,699,211 shares of the company’s stock, valued at approximately $460,280,057.22. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Sheldon Peters sold 1,790 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $45.50, for a total transaction of $81,445.00. Following the transaction, the insider now owns 88,493 shares in the company, valued at approximately $4,026,431.50. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 769,657 shares of company stock worth $33,868,724. 12.50% of the stock is owned by company insiders.

Institutional Trading of Lemonade

A number of large investors have recently bought and sold shares of LMND. Blue Trust Inc. grew its holdings in Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after acquiring an additional 1,879 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Lemonade by 1,549.0% during the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after purchasing an additional 18,480 shares during the last quarter. GSA Capital Partners LLP boosted its position in Lemonade by 31.0% during the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after purchasing an additional 42,822 shares during the last quarter. Quest Partners LLC lifted its stake in Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Lemonade by 99.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after purchasing an additional 27,265 shares during the last quarter. 80.30% of the stock is currently owned by 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.