Lemonade (NYSE:LMND) Shares Down 5.2% Following Insider Selling

Lemonade, Inc. (NYSE:LMND)’s share price was down 5.2% during mid-day trading on Monday following insider selling activity. The company traded as low as $39.31 and last traded at $39.37. Approximately 451,564 shares traded hands during trading, a decline of 75% from the average daily volume of 1,821,631 shares. The stock had previously closed at $41.54.

Specifically, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total transaction of $304,022.34. Following the completion of the transaction, the insider now owns 10,699,211 shares of the company’s stock, valued at approximately $460,280,057.22. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $44.29, for a total value of $31,880,606.35. Following the completion of the sale, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Michael A. Eisenberg sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $40.15, for a total transaction of $481,800.00. Following the completion of the transaction, the director now directly owns 94,670 shares in the company, valued at $3,801,000.50. The trade was a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JMP Securities boosted their target price on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets boosted their price objective on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Jefferies Financial Group cut their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $42.00 in a research report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and upped their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.43.

Lemonade Price Performance

The firm has a market cap of $2.81 billion, a P/E ratio of -12.95 and a beta of 2.09. The stock’s 50 day moving average is $34.10 and its two-hundred day moving average is $23.42.

Lemonade (NYSE:LMND) last released its quarterly earnings data 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 company had revenue of $136.60 million for 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 company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.88) EPS. As a group, research analysts forecast that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Axiom Advisory LLC increased its position in shares of Lemonade by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock worth $897,000 after purchasing an additional 850 shares in the last quarter. Blue Trust Inc. grew its stake in Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 1,879 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Lemonade by 12.1% during the second 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 in the last quarter. Tidal Investments LLC increased its holdings in shares of Lemonade by 4.6% during the third quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after buying an additional 2,017 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Lemonade by 9.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock worth $482,000 after acquiring an additional 2,582 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.