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

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

Wall Street Analyst Weigh In

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

Lemonade Trading Down 10.8 %

The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -12.96 and a beta of 2.08. The business has a 50-day moving average price of $36.36 and a two-hundred day moving average price of $24.24.

Lemonade (NYSE:LMND) last issued its earnings results 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 firm had revenue of $136.60 million for the quarter, compared to analyst estimates 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 last year, the company earned ($0.88) earnings per share. On average, equities research analysts predict that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, Director Maria Angelidis-Smith bought 18,512 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $27.42 per share, for a total transaction 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 represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total transaction of $945,760.00. Following the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $7,586,120. The trade was a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 871,514 shares of company stock worth $37,993,527. 12.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after purchasing an additional 1,879 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Lemonade by 321.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after buying an additional 3,403 shares during the period. Quest Partners LLC boosted its stake in Lemonade by 1,647.6% during the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after buying an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Lemonade during the second quarter worth about $180,000. Finally, Bristlecone Advisors LLC bought a new stake in Lemonade in the third quarter worth about $218,000. 80.30% of the stock is currently owned by 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.