Lemonade (NYSE:LMND) Trading Up 7.2%

Lemonade, Inc. (NYSE:LMND) shares traded up 7.2% during mid-day trading on Tuesday . The company traded as high as $17.43 and last traded at $17.33. 417,686 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,770,411 shares. The stock had previously closed at $16.16.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research report on Monday, April 15th. TD Cowen started coverage on Lemonade in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 price target on the stock. Morgan Stanley lifted their price objective on Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Wednesday, February 28th. Keefe, Bruyette & Woods upped their target price on shares of Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. Finally, Piper Sandler reissued a “neutral” rating and set a $17.00 price target on shares of Lemonade in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.11.

Lemonade Price Performance

The firm has a 50 day moving average price of $16.82 and a two-hundred day moving average price of $16.14.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.18. The business had revenue of $115.50 million during the quarter, compared to analyst estimates of $111.71 million. Lemonade had a negative net margin of 55.12% and a negative return on equity of 31.29%. Lemonade’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.93) EPS. Sell-side analysts expect that Lemonade, Inc. will post -3.03 EPS for the current year.

Insider Activity at Lemonade

In other Lemonade news, CFO Timothy E. Bixby bought 10,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of $16.54 per share, with a total value of $165,400.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $165,400. The transaction was disclosed in a document filed with the SEC, which is available through this link. 11.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LMND. Halter Ferguson Financial Inc. bought a new position in shares of Lemonade during the 4th quarter valued at about $6,429,000. Charles Schwab Investment Management Inc. grew its position in shares of Lemonade by 28.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 453,015 shares of the company’s stock worth $5,264,000 after buying an additional 100,872 shares during the period. Seven Eight Capital LP purchased a new position in shares of Lemonade during the third quarter valued at approximately $704,000. Cypress Capital Management LLC WY purchased a new stake in shares of Lemonade in the fourth quarter worth $946,000. Finally, Exchange Traded Concepts LLC raised its holdings in Lemonade by 135.7% in the third quarter. Exchange Traded Concepts LLC now owns 99,268 shares of the company’s stock worth $1,153,000 after buying an additional 57,148 shares during the last quarter. 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.