Lemonade (NYSE:LMND) Trading Down 5.4% - What's Next?

Lemonade, Inc. (NYSE:LMND - Get Free Report)'s share 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 trading, a decline of 82% from the average daily volume of 1,647,018 shares. The stock had previously closed at $37.78.

Analyst Upgrades and Downgrades

LMND has been the topic of a number of research reports. BMO Capital Markets increased their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an "underperform" rating in a report 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 report on Friday, November 22nd. Morgan Stanley upgraded shares of Lemonade from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Keefe, Bruyette & Woods lowered shares of Lemonade from a "market perform" rating to an "underperform" rating and raised their price objective for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Finally, Piper Sandler raised their price objective 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, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Lemonade has a consensus rating of "Hold" and an average target price of $32.67.

Lemonade Stock Performance

The stock's 50-day moving average is $36.66 and its 200 day moving average is $28.02. The stock has a market capitalization of $2.58 billion, a PE ratio of -11.88 and a beta of 2.15.

Insider Transactions at Lemonade

In other Lemonade news, COO Adina Eckstein sold 23,644 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total transaction of $945,760.00. Following the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $7,586,120. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the transaction, the insider now owns 11,263,569 shares in the company, valued at $498,863,471.01. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 846,945 shares of company stock worth $37,496,684 over the last ninety days. 12.50% of the stock is currently owned by company insiders.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently modified their holdings of LMND. JPMorgan Chase & Co. lifted its stake in shares of Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock valued at $49,494,000 after buying an additional 1,299,891 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 valued at $10,093,000 after buying an additional 220,399 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Lemonade during the fourth quarter valued at approximately $7,269,000. FMR LLC lifted its stake in shares of Lemonade by 93.0% during the third quarter. FMR LLC now owns 318,321 shares of the company's stock valued at $5,249,000 after buying an additional 153,362 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Lemonade by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company's stock valued at $195,999,000 after buying an additional 134,776 shares during the period. Hedge funds and other institutional investors 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.