Lemonade (NYSE:LMND) Stock Price Up 5.9% – Time to Buy?

Shares of Lemonade, Inc. (NYSE:LMND) shot up 5.9% during trading on Thursday. The company traded as high as $42.82 and last traded at $43.0580. Approximately 743,760 shares were traded during trading, a decline of 57% from the average daily volume of 1,734,307 shares. The stock had previously closed at $40.66.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Lemonade from $48.00 to $45.00 and set a “market perform” rating for the company in a report on Monday. Wall Street Zen cut Lemonade from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Truist Financial dropped their price objective on Lemonade from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 6th. Piper Sandler set a $45.00 price objective on Lemonade in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.50.

Lemonade Stock Up 6.2%

The company has a market cap of $3.37 billion, a PE ratio of -22.95 and a beta of 1.98. The firm’s fifty day simple moving average is $45.93 and its 200-day simple moving average is $56.92.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. Lemonade had a negative net margin of 12.95% and a negative return on equity of 28.59%. The business had revenue of $336.10 million during the quarter, compared to analysts’ expectations of $322.74 million. During the same period last year, the company posted ($0.51) EPS. The company’s revenue was up 72.8% on a year-over-year basis. On average, analysts predict that Lemonade, Inc. will post -1.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Peters sold 2,249 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $54.45, for a total value of $122,458.05. Following the sale, the insider directly owned 73,834 shares in the company, valued at $4,020,261.30. This represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,040 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total value of $56,815.20. Following the sale, the insider directly owned 186,533 shares in the company, valued at approximately $10,190,297.79. The trade was a 0.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 4,148 shares of company stock worth $226,200. 12.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LMND. Ameritas Advisory Services LLC acquired a new stake in shares of Lemonade during the 2nd quarter worth about $30,000. Allworth Financial LP raised its position in shares of Lemonade by 115.2% in the third quarter. Allworth Financial LP now owns 622 shares of the company’s stock valued at $28,000 after buying an additional 333 shares during the last quarter. State of Wyoming purchased a new position in shares of Lemonade during the first quarter valued at approximately $42,000. Advisors Asset Management Inc. acquired a new stake in Lemonade during the third quarter worth approximately $84,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Lemonade during the second quarter worth approximately $128,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc. is a digital insurance company that uses technology and artificial intelligence to offer insurance products through its website and mobile app. Its offerings include renters, homeowners, car, pet and term life insurance, with product availability varying by location. Founded in 2015 by Daniel Schreiber and Shai Wininger, the company serves customers in the United States and several European markets. Lemonade is headquartered in New York City. Co-founder Daniel Schreiber leads the company as chief executive officer.