Lemonade (NYSE:LMND) Shares Gap Down – Should You Sell?

Lemonade, Inc. (NYSE:LMND) shares gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

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

Lemonade Trading Up 2.3 %

The firm has a fifty day moving average of $34.20 and a 200 day moving average of $31.05. The company has a market capitalization of $2.53 billion, a P/E ratio of -11.43 and a beta of 2.12.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, topping 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 company had revenue of $148.80 million during the quarter, compared to the consensus estimate of $144.78 million. Sell-side analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 1,899 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value of $64,167.21. Following the transaction, the insider now directly owns 87,609 shares of the company’s stock, valued at approximately $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its position in shares of Lemonade by 6.8% during the 4th quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock valued at $215,000 after buying an additional 375 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Lemonade by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company’s stock valued at $200,000 after buying an additional 423 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lemonade by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock valued at $5,545,000 after buying an additional 442 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Lemonade by 4.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock valued at $390,000 after buying an additional 500 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after buying an additional 700 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.