Lemonade (NYSE:LMND) Trading Up 6.4% – Time to Buy?

Shares of Lemonade, Inc. (NYSE:LMND) shot up 6.4% during trading on Thursday . The stock traded as high as $44.50 and last traded at $43.90. 1,206,054 shares traded hands during trading, a decline of 34% from the average session volume of 1,819,269 shares. The stock had previously closed at $41.27.

Wall Street Analysts Forecast Growth

LMND has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Piper Sandler upped their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. JMP Securities lifted their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets upped their price objective 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.43.

Lemonade Trading Down 10.8 %

The company has a market cap of $2.81 billion, a PE ratio of -12.96 and a beta of 2.08. The business’s 50-day simple moving average is $36.36 and its 200-day simple moving average is $24.24.

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

Insider Transactions at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria Angelidis-Smith sold 33,554 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $30.33, for a total value of $1,017,692.82. Following the transaction, the director now owns 40,916 shares in the company, valued at approximately $1,240,982.28. This trade represents a 45.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 871,514 shares of company stock valued at $37,993,527 in the last three months. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Lemonade by 220.0% during 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. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after acquiring an additional 3,403 shares during the period. Quest Partners LLC grew its position in shares of Lemonade by 1,647.6% in the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Lemonade in the second quarter worth about $180,000. Finally, Bristlecone Advisors LLC acquired a new position in shares of Lemonade during the 3rd quarter worth about $218,000. Institutional investors and hedge funds 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.