Lemonade (NYSE:LMND) Stock Price Down 5.4% - Should You Sell?

Lemonade, Inc. (NYSE:LMND - Get Free Report)'s stock price dropped 5.4% during mid-day trading on Tuesday . The company traded as low as $35.45 and last traded at $35.72. Approximately 297,872 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,647,018 shares. The stock had previously closed at $37.78.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LMND. Morgan Stanley raised Lemonade from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Keefe, Bruyette & Woods cut shares of Lemonade from a "market perform" rating to an "underperform" rating and raised their target price for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. BMO Capital Markets boosted their price target on shares of Lemonade from $13.00 to $15.00 and gave the stock an "underperform" rating in a research note on Thursday, November 21st. JMP Securities raised their price objective on shares of Lemonade from $40.00 to $60.00 and gave the company a "market outperform" rating in a research report on Friday, November 22nd. Finally, Piper Sandler boosted their target price on Lemonade from $25.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Lemonade currently has a consensus rating of "Hold" and an average price target of $32.67.

Lemonade Stock Performance

The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.88 and a beta of 2.15. The company has a fifty day simple moving average of $36.44 and a two-hundred day simple moving average of $28.22.

Insider Activity at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were 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 owns 189,653 shares of the company's stock, valued at approximately $9,482,650. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 28,985 shares of the company's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $38.67, for a total value of $1,120,849.95. Following the sale, the insider now owns 69,508 shares of the company's stock, valued at approximately $2,687,874.36. The trade was a 29.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 846,945 shares of company stock worth $37,496,684. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Lemonade by 2,627.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock worth $49,494,000 after buying an additional 1,299,891 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Lemonade by 402.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company's stock worth $10,093,000 after acquiring an additional 220,399 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Lemonade in the fourth quarter worth about $7,269,000. FMR LLC boosted its holdings in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company's stock valued at $5,249,000 after purchasing an additional 153,362 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Lemonade by 492.6% during the 4th quarter. Deutsche Bank AG now owns 182,081 shares of the company's stock valued at $6,679,000 after purchasing an additional 151,357 shares in 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.