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 business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $40.15, for a total transaction of $481,800.00. Following the transaction, the director now owns 94,670 shares in the company, 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 the SEC website.

Lemonade Stock Performance

Shares of LMND opened at $39.18 on Thursday. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The business has a 50-day moving average of $33.20 and a 200 day moving average of $23.09. The firm has a market cap of $2.80 billion, a P/E ratio of -12.89 and a beta of 2.09.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to the consensus estimate 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 revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.88) earnings per share. As a group, research analysts predict that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Lemonade by 99.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after buying an additional 27,265 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Lemonade by 31.0% during the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after buying an additional 42,822 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Lemonade in the third quarter worth about $1,571,000. Finally, International Assets Investment Management LLC boosted its position in shares of Lemonade by 1,549.0% in the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after acquiring an additional 18,480 shares during the period. Institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LMND shares. BMO Capital Markets boosted their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. JMP Securities lifted their target price on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Piper Sandler increased their price target on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group decreased their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. 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.