Lemonade (NYSE:LMND) Trading Up 5.6% – What’s Next?

Lemonade, Inc. (NYSE:LMND) shares shot up 5.6% on Friday . The stock traded as high as $38.94 and last traded at $38.41. 222,984 shares traded hands during trading, a decline of 77% from the average session volume of 962,767 shares. The stock had previously closed at $36.39.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JMP Securities lifted their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Piper Sandler boosted their price target on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Jefferies Financial Group decreased 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. Finally, Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their price objective for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.43.

Lemonade Stock Performance

The firm has a fifty day simple moving average of $37.82 and a two-hundred day simple moving average of $24.84. The firm has a market cap of $2.68 billion, a PE ratio of -12.33 and a beta of 2.09.

Lemonade (NYSE:LMND) last issued 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. 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%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.88) earnings per share. Equities analysts forecast that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the sale, the chief operating officer now directly owns 189,653 shares in the company, valued at $7,586,120. The trade was 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. Also, Director Maria Angelidis-Smith bought 18,512 shares of the company’s stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the acquisition, the director now owns 18,512 shares in the company, valued at $507,599.04. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 871,514 shares of company stock worth $37,993,527 over the last 90 days. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently modified their holdings of LMND. Tidal Investments LLC raised its stake in Lemonade by 4.6% in the third quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after buying an additional 2,017 shares in the last quarter. Barclays PLC lifted its stake in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after purchasing an additional 65,144 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Lemonade during the third quarter valued at about $614,000. State Street Corp boosted its stake in Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after purchasing an additional 14,028 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position 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 purchasing an additional 3,403 shares during the last quarter. Hedge funds and other institutional investors 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.