Michael A. Eisenberg Sells 12,000 Shares of Lemonade, Inc. (NYSE:LMND) Stock

Lemonade, Inc. (NYSE:LMND) Director Michael A. Eisenberg sold 12,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $40.15, for a total value of $481,800.00. Following the completion of the sale, the director now owns 94,670 shares of the company’s stock, valued at approximately $3,801,000.50. This trade represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Lemonade Price Performance

Shares of NYSE:LMND opened at $43.74 on Tuesday. The business’s 50 day moving average price is $32.19 and its 200-day moving average price is $22.79. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $53.85. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -14.39 and a beta of 2.09.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.88) earnings per share. On average, sell-side analysts expect that Lemonade, Inc. will post -3.04 earnings per share for the current year.

Institutional Investors Weigh In On Lemonade

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Lemonade by 321.3% in the 3rd 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 during the last quarter. Quest Partners LLC grew its holdings in shares of Lemonade by 1,647.6% during the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after purchasing an additional 8,584 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in Lemonade in the 2nd quarter valued at about $180,000. Finally, Bristlecone Advisors LLC purchased a new position in Lemonade during the third quarter worth about $218,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LMND. Jefferies Financial Group reduced their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Piper Sandler upped their price target on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Finally, BMO Capital Markets lifted their price target on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.43.

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.