Lemonade (NYSE:LMND) Stock Price Up 10.6% – Here’s What Happened

Shares of Lemonade, Inc. (NYSE:LMND) were up 10.6% on Thursday . The stock traded as high as $34.62 and last traded at $34.81. Approximately 1,041,160 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 2,100,376 shares. The stock had previously closed at $31.48.

Analyst Ratings Changes

Several analysts recently weighed in on LMND shares. JMP Securities lifted their price objective on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Keefe, Bruyette & Woods downgraded 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 report on Thursday, November 7th. Piper Sandler decreased their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, BMO Capital Markets lifted 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. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and an average price target of $31.00.

Lemonade Stock Up 2.0 %

The firm has a market capitalization of $2.58 billion, a PE ratio of -11.90 and a beta of 2.15. The company’s 50-day simple moving average is $35.11 and its 200 day simple moving average is $29.37.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.19. The business had revenue of $148.80 million during the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. On average, sell-side analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, Director Michael A. Eisenberg sold 12,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $40.15, for a total value of $481,800.00. Following the completion of the transaction, the director now directly owns 94,670 shares of the company’s stock, valued at $3,801,000.50. This trade represents a 11.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the transaction, the insider now directly owns 11,263,569 shares of the company’s stock, valued at $498,863,471.01. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 769,657 shares of company stock valued at $33,868,724. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lemonade

Several hedge funds and other institutional investors have recently bought and sold shares of LMND. Blue Trust Inc. increased its holdings in Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 1,879 shares during the period. International Assets Investment Management LLC increased its holdings in Lemonade by 1,549.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after buying an additional 18,480 shares during the period. GSA Capital Partners LLP increased its holdings in Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after buying an additional 42,822 shares during the period. Quest Partners LLC increased its holdings in Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after buying an additional 8,584 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Lemonade by 99.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock worth $903,000 after buying an additional 27,265 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.