Key Points
- Insider sale: Lemonade insider John Sheldon Peters sold 1,735 shares on June 3 at an average price of $53.17, totaling about $92,250. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vesting equity awards.
- Recent trading activity: Peters also sold 3,608 shares the following day at an average price of $52.94, worth about $191,008. After the June 3 sale, he still held 84,994 shares valued at roughly $4.52 million.
- Company snapshot: Lemonade shares were down slightly, opening at $51.46, while the stock has traded between $35.70 and $99.90 over the past year. The company recently beat quarterly earnings and revenue estimates, and analysts currently rate the stock a consensus Hold with an average target price of $64.89.
Lemonade, Inc. (NYSE:LMND - Get Free Report) insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $64,867.40. Following the transaction, the insider directly owned 187,573 shares of the company's stock, valued at $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Lemonade Stock Down 0.2%
Shares of LMND stock opened at $51.46 on Friday. Lemonade, Inc. has a 12-month low of $35.70 and a 12-month high of $99.90. The company has a market capitalization of $3.95 billion, a P/E ratio of -27.52 and a beta of 1.83. The firm has a 50-day moving average price of $59.03 and a 200 day moving average price of $67.43.
Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. During the same period last year, the firm posted ($0.86) EPS. The firm's quarterly revenue was up 70.6% on a year-over-year basis. As a group, research analysts expect that Lemonade, Inc. will post -1.69 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on LMND. Wolfe Research set a $44.00 price target on shares of Lemonade in a report on Tuesday, February 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lemonade in a report on Tuesday, April 21st. Keefe, Bruyette & Woods lifted their price target on shares of Lemonade from $40.00 to $44.00 and gave the company an "underperform" rating in a report on Tuesday, February 24th. Citizens Jmp dropped their target price on shares of Lemonade from $85.00 to $80.00 and set a "market outperform" rating for the company in a research note on Thursday, April 30th. Finally, UBS Group set a $75.00 target price on shares of Lemonade in a research note on Thursday, May 21st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $64.89.
View Our Latest Report on LMND
Institutional Investors Weigh In On Lemonade
A number of institutional investors and hedge funds have recently modified their holdings of LMND. AQR Capital Management LLC raised its stake in shares of Lemonade by 107.3% during the first quarter. AQR Capital Management LLC now owns 30,490 shares of the company's stock worth $958,000 after buying an additional 15,779 shares during the last quarter. Millennium Management LLC raised its stake in shares of Lemonade by 255.2% during the first quarter. Millennium Management LLC now owns 329,934 shares of the company's stock worth $10,370,000 after buying an additional 237,044 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Lemonade during the first quarter worth approximately $35,000. Goldman Sachs Group Inc. raised its stake in shares of Lemonade by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock worth $19,244,000 after buying an additional 41,759 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Lemonade during the second quarter worth approximately $307,000. 80.30% of the stock is owned by institutional investors.
About Lemonade
(
Get Free Report)
Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.
The company's product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.
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