Lemonade (NYSE:LMND) Shares Up 6.4% – What’s Next?

Shares of Lemonade, Inc. (NYSE:LMND) traded up 6.4% on Thursday . The company traded as high as $44.50 and last traded at $43.90. 1,206,054 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 1,819,269 shares. The stock had previously closed at $41.27.

Analysts Set New Price Targets

Several equities research analysts recently commented on LMND shares. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their price objective for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Jefferies Financial Group lowered their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler lifted their price objective on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Finally, BMO Capital Markets boosted their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Lemonade has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Stock Up 5.0 %

The company has a 50 day moving average of $35.44 and a 200 day moving average of $23.94. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -14.25 and a beta of 2.08.

Lemonade (NYSE:LMND) last announced its quarterly earnings data 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. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same period in the prior year, the firm posted ($0.88) EPS. The company’s revenue was up 19.3% on a year-over-year basis. On average, research analysts forecast that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the transaction, the insider now directly owns 11,263,569 shares of the company’s stock, valued at $498,863,471.01. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maria Angelidis-Smith bought 18,512 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $27.42 per share, with a total value of $507,599.04. Following the transaction, the director now directly owns 18,512 shares of the company’s stock, valued at approximately $507,599.04. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 871,514 shares of company stock worth $37,993,527 in the last quarter. 12.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Lemonade

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after buying an additional 3,403 shares during the period. Quest Partners LLC lifted its holdings in Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after buying an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Lemonade in the 2nd quarter valued at about $180,000. Finally, Bristlecone Advisors LLC acquired a new stake in shares of Lemonade during the third quarter valued at about $218,000. 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.