Lemonade, Inc. (NYSE:LMND) COO Sells $1,182,200.00 in Stock

Lemonade, Inc. (NYSE:LMND) COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the completion of the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at $9,482,650. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Adina Eckstein also recently made the following trade(s):

• On Tuesday, November 19th, Adina Eckstein sold 23,644 shares of Lemonade stock. The stock was sold at an average price of $40.00, for a total value of $945,760.00.

Lemonade Stock Performance

NYSE:LMND opened at $49.28 on Friday. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $52.22. The company has a fifty day moving average of $22.98 and a two-hundred day moving average of $19.52. The stock has a market capitalization of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same period in the previous year, the company posted ($0.88) earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. Research analysts forecast that Lemonade, Inc. will post -3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. JMP Securities lifted their price objective on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday. BMO Capital Markets upped their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday. Finally, Piper Sandler increased their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.43.

Institutional Investors Weigh In On Lemonade

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its stake in Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after acquiring an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Lemonade by 321.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after purchasing an additional 3,403 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Lemonade by 1,647.6% in the third 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. Concurrent Investment Advisors LLC purchased a new position in Lemonade during the second quarter worth approximately $180,000. Finally, Bristlecone Advisors LLC acquired a new position in Lemonade during the third quarter worth $218,000. 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.