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

Lemonade, Inc. (NYSE:LMND)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $36.98, but opened at $35.74. Lemonade shares last traded at $34.75, with a volume of 203,903 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LMND. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Piper Sandler dropped their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets lifted their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Finally, JMP Securities increased their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Lemonade has an average rating of “Hold” and an average price target of $31.00.

Lemonade Trading Down 7.7 %

The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -11.19 and a beta of 2.12. The company’s fifty day moving average is $34.23 and its two-hundred day moving average is $30.91.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.19. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $148.80 million for the quarter, compared to the consensus estimate of $144.78 million. Analysts predict that Lemonade, Inc. will post -3.03 EPS for the current year.

Insider Transactions at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total value of $304,022.34. Following the sale, the insider now directly owns 10,699,211 shares in the company, valued at approximately $460,280,057.22. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Sheldon Peters sold 28,985 shares of the business’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 transaction, the insider now directly owns 69,508 shares of the company’s stock, valued at $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 quarter, insiders have sold 37,951 shares of company stock valued at $1,489,040. 12.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Lemonade

A number of large investors have recently made changes to their positions in LMND. Quest Partners LLC grew its holdings in Lemonade by 1,647.6% during the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after acquiring an additional 8,584 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Lemonade by 99.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock worth $903,000 after purchasing an additional 27,265 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Lemonade during the third quarter worth approximately $264,000. Landscape Capital Management L.L.C. raised its holdings in Lemonade by 17.6% during the third quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after purchasing an additional 48,260 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after buying an additional 153,362 shares during the last quarter. 80.30% of the stock is currently owned by hedge funds and other 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.