Lemonade (NYSE:LMND) Trading Up 4.2% on Insider Buying Activity

Lemonade, Inc. (NYSE:LMND)’s share price rose 4.2% during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as high as $34.12 and last traded at $33.34. Approximately 282,366 shares traded hands during trading, a decline of 83% from the average daily volume of 1,651,684 shares. The stock had previously closed at $31.99.

Specifically, Director Maria Angelidis-Smith bought 15,042 shares of the stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $33.23 per share, for a total transaction of $499,845.66. Following the completion of the transaction, the director now owns 33,554 shares of the company’s stock, valued at $1,114,999.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria Angelidis-Smith purchased 18,512 shares of Lemonade stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $27.42 per share, with a total value of $507,599.04. Following the completion of the transaction, the director now owns 18,512 shares in the company, valued at approximately $507,599.04. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LMND shares. Jefferies Financial Group dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Piper Sandler raised their price target on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and increased their price objective for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.83.

Lemonade Stock Up 4.2 %

The stock has a fifty day moving average price of $19.81 and a two-hundred day moving average price of $18.39. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -10.52 and a beta of 1.68.

Lemonade (NYSE:LMND) last announced its 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 net margin of 43.51% and a negative return on equity of 32.85%. The firm had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the previous year, the company posted ($0.88) EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, research analysts forecast that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently modified their holdings of LMND. State Board of Administration of Florida Retirement System lifted its position in Lemonade by 18.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after buying an additional 2,710 shares during the period. HAP Trading LLC boosted its position in shares of Lemonade by 106.1% in the first quarter. HAP Trading LLC now owns 24,315 shares of the company’s stock worth $399,000 after acquiring an additional 12,515 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Lemonade by 9.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after purchasing an additional 2,196 shares during the period. Tidal Investments LLC purchased a new stake in Lemonade in the first quarter valued at approximately $718,000. Finally, Concurrent Investment Advisors LLC acquired a new position in Lemonade during the second quarter worth approximately $180,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.