Lemonade (NYSE:LMND) Stock Price Up 7.4% – Time to Buy?

Lemonade, Inc. (NYSE:LMND) shares rose 7.4% during mid-day trading on Thursday . The stock traded as high as $35.89 and last traded at $34.76. Approximately 1,126,541 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,762,541 shares. The stock had previously closed at $32.36.

Wall Street Analyst Weigh In

LMND has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. BMO Capital Markets lifted their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and upped their price objective for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. JMP Securities lifted their target price on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Lemonade presently has an average rating of “Hold” and an average target price of $32.67.

Lemonade Stock Up 13.4 %

The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -12.07 and a beta of 2.15. The stock has a 50 day simple moving average of $36.84 and a 200 day simple moving average of $27.96.

Insider Activity at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the transaction, the insider now owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. The trade was a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Sheldon Peters sold 28,985 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 69,508 shares of the company’s stock, valued at $2,687,874.36. This trade represents a 29.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 846,945 shares of company stock worth $37,496,684 in the last 90 days. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in Lemonade by 93.0% during the third quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after purchasing an additional 153,362 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Lemonade by 99.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after purchasing an additional 27,265 shares during the last quarter. Verition Fund Management LLC purchased a new position in Lemonade in the third quarter valued at about $1,571,000. GSA Capital Partners LLP grew its stake in shares of Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after buying an additional 42,822 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Lemonade by 1,549.0% during the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after purchasing an additional 18,480 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.