Lemonade (NYSE:LMND) Hits New 52-Week High – Time to Buy?

Lemonade, Inc. (NYSE:LMND)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $39.45 and last traded at $39.23, with a volume of 1128828 shares changing hands. The stock had previously closed at $34.31.

Analyst Upgrades and Downgrades

LMND has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Morgan Stanley upped their target price on Lemonade from $15.00 to $23.00 and gave the company an “underweight” rating in a research report on Friday. JMP Securities restated a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a report on Tuesday, October 15th. Jefferies Financial Group reduced their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.33.

Lemonade Stock Up 11.2 %

The business’s 50-day simple moving average is $20.69 and its 200 day simple moving average is $18.72. The firm has a market capitalization of $2.72 billion, a P/E ratio of -12.88 and a beta of 1.68.

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

Insiders Place Their Bets

In related news, insider Maya Prosor sold 20,000 shares of Lemonade stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the sale, the insider now owns 59,286 shares of the company’s stock, valued at approximately $1,778,580. This trade represents a 25.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria Angelidis-Smith sold 33,554 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the completion of the sale, the director now owns 40,916 shares in the company, valued at approximately $1,240,982.28. The trade was a 45.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,604 shares of company stock valued at $1,655,085. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its stake in shares of Lemonade by 31.0% during the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after acquiring an additional 42,822 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Lemonade by 1,549.0% in the third 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 in the last quarter. Millennium Management LLC boosted its stake in Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after acquiring an additional 131,784 shares in the last quarter. Squarepoint Ops LLC increased its position in Lemonade by 436.2% during the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock valued at $752,000 after buying an additional 37,073 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Lemonade in the 1st quarter valued at approximately $718,000. 80.30% of the stock is currently 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.