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

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LMND shares. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their price target for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Piper Sandler raised their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. BMO Capital Markets boosted their price target on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Finally, Jefferies Financial Group decreased their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.43.

Lemonade Stock Performance

The firm has a market cap of $2.71 billion, a PE ratio of -12.48 and a beta of 2.09. The stock has a 50 day simple moving average of $38.21 and a two-hundred day simple moving average of $25.06.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same period last year, the business earned ($0.88) earnings per share. Lemonade’s quarterly revenue was up 19.3% on a year-over-year basis. Equities research analysts forecast that Lemonade, Inc. will post -3.04 earnings per share for the current year.

Insider Activity at Lemonade

In other Lemonade news, COO Adina Eckstein sold 23,644 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total value of $1,182,200.00. Following the sale, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 1,790 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $45.50, for a total value of $81,445.00. Following the transaction, the insider now directly owns 88,493 shares of the company’s stock, valued at approximately $4,026,431.50. The trade was a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 900,499 shares of company stock worth $39,114,376 in the last three months. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of large investors have recently added to or reduced their stakes in LMND. State Street Corp lifted its position in shares of Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after acquiring an additional 14,028 shares in the last quarter. Marshall Wace LLP acquired a new position in Lemonade in the 2nd quarter valued at $14,181,000. Landscape Capital Management L.L.C. lifted its holdings in Lemonade by 17.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after purchasing an additional 48,260 shares in the last quarter. FMR LLC boosted its stake in Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the last quarter. Finally, General Equity Holdings LP purchased a new stake in shares of Lemonade during the second quarter worth $5,198,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.