Lemonade (NYSE:LMND) Shares Down 3.3% - What's Next?

Lemonade, Inc. (NYSE:LMND - Get Free Report)'s stock price dropped 3.3% during trading on Tuesday . The company traded as low as $26.94 and last traded at $27.18. Approximately 949,319 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 1,905,060 shares. The stock had previously closed at $28.11.

Wall Street Analysts Forecast Growth

LMND has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley cut Lemonade from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $28.00.

Lemonade Trading Up 0.9 %

The firm has a market capitalization of $1.92 billion, a PE ratio of -8.66 and a beta of 2.13. The company has a fifty day moving average price of $33.51 and a two-hundred day moving average price of $32.65.

Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.61) by $0.19. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $148.80 million during the quarter, compared to analysts' expectations of $144.78 million. As a group, equities research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Sheldon Peters sold 1,899 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the transaction, the insider now directly owns 87,609 shares of the company's stock, valued at $2,960,308.11. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the sale, the insider now owns 10,452,476 shares of the company's stock, valued at approximately $389,041,156.72. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 248,634 shares of company stock worth $9,219,003. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Lemonade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its stake in shares of Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company's stock worth $34,000 after purchasing an additional 700 shares in the last quarter. Avior Wealth Management LLC acquired a new position in shares of Lemonade in the fourth quarter worth $40,000. Russell Investments Group Ltd. lifted its position in shares of Lemonade by 318.8% in the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company's stock valued at $42,000 after acquiring an additional 867 shares in the last quarter. BNP Paribas acquired a new stake in shares of Lemonade during the fourth quarter valued at $57,000. Finally, PNC Financial Services Group Inc. increased its position in Lemonade by 116.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company's stock worth $59,000 after purchasing an additional 860 shares in the last quarter. 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.