Lemonade (NYSE:LMND) Shares Up 5% – Here’s Why

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group lowered their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets upped their target price on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Piper Sandler lifted their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Finally, JMP Securities raised their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Lemonade presently has an average rating of “Hold” and an average target price of $32.67.

Lemonade Stock Up 3.2 %

The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -10.75 and a beta of 2.17. The business’s fifty day moving average is $39.93 and its 200 day moving average is $26.00.

Lemonade (NYSE:LMND) last released its quarterly earnings results 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 firm had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.88) EPS. Equities research analysts expect that Lemonade, Inc. will post -3.04 EPS for the current year.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 28,985 shares of Lemonade stock in a transaction on Monday, December 30th. The shares were sold at an average price of $38.67, for a total value of $1,120,849.95. Following the sale, the insider now directly owns 69,508 shares in the company, valued at approximately $2,687,874.36. The trade was a 29.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the transaction, the insider now owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. This represents a 6.01 % 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 valued at $39,114,376 in the last quarter. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LMND. Mandatum Life Insurance Co Ltd acquired a new stake in shares of Lemonade in the 4th quarter valued at approximately $378,000. Johnson & White Wealth Management LLC acquired a new stake in Lemonade in the fourth quarter valued at $234,000. Tidal Investments LLC lifted its stake in Lemonade by 4.6% in the third quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock valued at $752,000 after acquiring an additional 2,017 shares during the last quarter. Barclays PLC grew its position in shares of Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after acquiring an additional 65,144 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Lemonade during the 3rd quarter worth about $614,000. 80.30% of the stock is currently 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.