Lemonade (NYSE:LMND) Shares Gap Down – What’s Next?

Lemonade, Inc. (NYSE:LMND) gapped down prior to trading on Friday . The stock had previously closed at $34.44, but opened at $32.61. Lemonade shares last traded at $32.63, with a volume of 417,850 shares traded.

Wall Street Analyst Weigh In

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

Lemonade Stock Down 7.0 %

The firm has a fifty day moving average price of $39.50 and a two-hundred day moving average price of $25.55. The stock has a market capitalization of $2.29 billion, a P/E ratio of -10.54 and a beta of 2.17.

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 analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. During the same period last year, the business earned ($0.88) EPS. Lemonade’s revenue was up 19.3% compared to the same quarter last year. Sell-side analysts anticipate that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction that occurred 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 approximately $9,482,650. The trade was a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maria Angelidis-Smith purchased 18,512 shares of the stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the acquisition, the director now directly owns 18,512 shares of the company’s stock, valued at approximately $507,599.04. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 900,499 shares of company stock worth $39,114,376. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several hedge funds have recently modified their holdings of LMND. Tidal Investments LLC increased its holdings in Lemonade by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock valued at $752,000 after acquiring an additional 2,017 shares during the last quarter. Barclays PLC grew its position in shares of Lemonade by 292.5% during the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after purchasing an additional 65,144 shares in the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of Lemonade in the third quarter worth about $614,000. State Street Corp lifted its position in shares of Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after buying an additional 14,028 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after buying an additional 3,403 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.