Lemonade (NYSE:LMND) Shares Up 9.5% – Should You Buy?

Lemonade, Inc. (NYSE:LMND) shot up 9.5% during trading on Monday . The company traded as high as $37.88 and last traded at $37.85. 387,010 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,856,692 shares. The stock had previously closed at $34.58.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price target on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Three investment 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 6.6 %

The firm has a market cap of $2.68 billion, a P/E ratio of -12.13 and a beta of 2.12. The firm’s 50-day simple moving average is $34.25 and its 200 day simple moving average is $31.36.

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

Insider Buying and Selling at Lemonade

In other news, insider John Sheldon Peters sold 1,899 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value of $64,167.21. Following the completion of the transaction, the insider now directly owns 87,609 shares of the company’s stock, valued at $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lemonade

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after acquiring an additional 153,362 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Lemonade by 99.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after buying an additional 27,265 shares during the period. Verition Fund Management LLC bought a new stake in Lemonade during the third quarter valued at $1,571,000. Strategic Financial Concepts LLC bought a new stake in Lemonade during the fourth quarter valued at $2,712,000. Finally, Barclays PLC boosted its stake in Lemonade by 292.5% during the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after buying an additional 65,144 shares during the period. 80.30% of the stock is owned by 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.