Lemonade (NYSE:LMND) Stock Price Up 7.5% – Still a Buy?

Lemonade, Inc. (NYSE:LMND)’s share price traded up 7.5% during trading on Friday . The company traded as high as $41.06 and last traded at $40.95. 765,856 shares traded hands during trading, a decline of 58% from the average session volume of 1,816,729 shares. The stock had previously closed at $38.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets raised 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 decreased 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. Piper Sandler upped their price objective on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Finally, JMP Securities upped their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.43.

Lemonade Stock Performance

The firm has a fifty day simple moving average of $34.10 and a 200-day simple moving average of $23.42. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -13.66 and a beta of 2.09.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same period in the prior year, the firm posted ($0.88) EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Analysts expect that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Maria Angelidis-Smith acquired 18,512 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $27.42 per share, with a total value of $507,599.04. Following the completion of the purchase, the director now directly owns 18,512 shares of the company’s stock, valued at $507,599.04. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the sale, the insider now 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. Insiders have sold a total of 869,724 shares of company stock worth $37,912,082 in the last quarter. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Hedge funds and other institutional investors have recently modified their holdings of the stock. Axiom Advisory LLC boosted its holdings in shares of Lemonade by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock valued at $897,000 after acquiring an additional 850 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Lemonade by 12.1% in the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after buying an additional 1,915 shares during the period. Tidal Investments LLC increased its stake in shares of 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 buying an additional 2,017 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Lemonade by 9.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $482,000 after buying an additional 2,582 shares during the last quarter. Institutional investors 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.