Lemonade (NYSE:LMND) Shares Down 4.3%

Lemonade, Inc. (NYSE:LMND)’s share price traded down 4.3% during trading on Tuesday . The company traded as low as $15.73 and last traded at $15.90. 499,868 shares traded hands during trading, a decline of 71% from the average session volume of 1,716,230 shares. The stock had previously closed at $16.62.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler raised their target price on Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research note on Monday, April 15th. Finally, Jefferies Financial Group lifted their price objective on Lemonade from $14.00 to $16.00 and gave the company an “underperform” rating in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lemonade currently has an average rating of “Hold” and an average target price of $18.86.

Lemonade Price Performance

The firm has a 50 day moving average of $17.87 and a two-hundred day moving average of $17.24. The stock has a market cap of $1.09 billion, a PE ratio of -4.96 and a beta of 1.78.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.07. The firm had revenue of $122.00 million during the quarter, compared to analysts’ expectations of $121.77 million. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.97) earnings per share. As a group, equities analysts anticipate that Lemonade, Inc. will post -2.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Timothy E. Bixby purchased 15,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $15.51 per share, with a total value of $232,650.00. Following the completion of the transaction, the chief financial officer now directly owns 25,000 shares in the company, valued at approximately $387,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Timothy E. Bixby purchased 15,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $15.51 per share, with a total value of $232,650.00. Following the completion of the transaction, the chief financial officer now directly owns 25,000 shares in the company, valued at approximately $387,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy E. Bixby sold 2,077 shares of Lemonade stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $16.03, for a total value of $33,294.31. Following the transaction, the chief financial officer now directly owns 273,602 shares in the company, valued at approximately $4,385,840.06. The disclosure for this sale can be found here. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LMND. Halter Ferguson Financial Inc. acquired a new position in shares of Lemonade in the fourth quarter valued at approximately $6,429,000. GSA Capital Partners LLP purchased a new stake in shares of Lemonade in the first quarter valued at approximately $3,100,000. Cypress Capital Management LLC WY purchased a new stake in shares of Lemonade in the fourth quarter valued at approximately $946,000. Tidal Investments LLC purchased a new stake in shares of Lemonade in the first quarter valued at approximately $718,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Lemonade in the first quarter valued at approximately $477,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Company Profile

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.