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

Lemonade, Inc. (NYSE:LMND) gapped down before the market opened on Wednesday . The stock had previously closed at $31.99, but opened at $27.12. Lemonade shares last traded at $30.27, with a volume of 3,135,188 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LMND shares. 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 research report on Thursday, November 7th. JMP Securities lifted their price objective on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. BMO Capital Markets upped their target price on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler increased their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Lemonade presently has a consensus rating of “Hold” and an average target price of $32.67.

Lemonade Stock Down 2.6 %

The company’s fifty day simple moving average is $35.42 and its 200 day simple moving average is $29.17. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -10.25 and a beta of 2.15.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. The firm had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. As a group, analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other Lemonade news, Director Michael A. Eisenberg sold 12,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $40.15, for a total value of $481,800.00. Following the sale, the director now owns 94,670 shares of the company’s stock, valued at $3,801,000.50. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were 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. Over the last ninety days, insiders sold 769,657 shares of company stock valued at $33,868,724. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Lemonade by 6.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock worth $215,000 after acquiring an additional 375 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Lemonade by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company’s stock worth $200,000 after acquiring an additional 423 shares during the period. Bank of New York Mellon Corp boosted its holdings in Lemonade by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock worth $5,545,000 after buying an additional 442 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Lemonade by 4.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock worth $390,000 after buying an additional 500 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after buying an additional 700 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

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.