Lemonade (NYSE:LMND) Shares Up 5% – Time to Buy?

Lemonade, Inc. (NYSE:LMND) shot up 5% during trading on Thursday . The stock traded as high as $33.65 and last traded at $33.42. Approximately 450,025 shares were traded during trading, a decline of 77% from the average session volume of 1,925,846 shares. The stock had previously closed at $31.83.

Analyst Upgrades and Downgrades

LMND has been the topic of a number of recent analyst reports. BMO Capital Markets increased 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. Jefferies Financial Group reduced their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Piper Sandler lifted their price objective on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.67.

Lemonade Price Performance

The company has a market cap of $2.34 billion, a PE ratio of -10.79 and a beta of 2.17. The firm has a 50-day simple moving average of $40.18 and a two-hundred day simple moving average of $26.20.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted ($0.88) earnings per share. Equities research analysts forecast that Lemonade, Inc. will post -3.04 EPS for the current year.

Insider Transactions at Lemonade

In other 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 transaction, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at $7,586,120. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Sheldon Peters sold 1,790 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $45.50, for a total transaction of $81,445.00. Following the sale, the insider now directly owns 88,493 shares of the company’s stock, valued at approximately $4,026,431.50. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Institutional Trading of Lemonade

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