Lemonade, Inc. (NYSE:LMND) COO Adina Eckstein Sells 23,644 Shares

Lemonade, Inc. (NYSE:LMND) COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total transaction of $945,760.00. Following the completion of the transaction, the chief operating officer now owns 189,653 shares in the company, valued at approximately $7,586,120. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Adina Eckstein also recently made the following trade(s):

• On Thursday, November 21st, Adina Eckstein sold 23,644 shares of Lemonade stock. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00.

Lemonade Price Performance

Shares of Lemonade stock traded up $3.78 during trading on Thursday, hitting $50.36. 9,791,625 shares of the company’s stock traded hands, compared to its average volume of 1,757,450. Lemonade, Inc. has a 1 year low of $14.03 and a 1 year high of $52.22. The stock has a market capitalization of $3.60 billion, a P/E ratio of -16.57 and a beta of 1.68. The business has a 50-day simple moving average of $22.36 and a 200-day simple moving average of $19.29.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.07. The company had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Lemonade’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.88) earnings per share. On average, equities analysts predict that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LMND. Marshall Wace LLP purchased a new position in Lemonade in the second quarter worth about $14,181,000. General Equity Holdings LP purchased a new position in Lemonade in the second quarter worth about $5,198,000. FMR LLC boosted its position in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the last quarter. Millennium Management LLC lifted its position in shares of Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after buying an additional 131,784 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Lemonade during the 3rd quarter valued at about $1,571,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LMND shares. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $42.00 in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Piper Sandler raised their price target on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets raised their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.57.

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.