Lemonade (NYSE:LMND) Reaches New 12-Month High – What’s Next?

Lemonade, Inc. (NYSE:LMND)’s share price hit a new 52-week high on Thursday . The stock traded as high as $84.52 and last traded at $81.1090, with a volume of 1423178 shares traded. The stock had previously closed at $78.37.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut their price objective on shares of Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Citigroup restated a “market outperform” rating on shares of Lemonade in a research report on Monday, November 24th. Keefe, Bruyette & Woods lifted their price objective on Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, November 25th. Finally, Morgan Stanley boosted their price objective on Lemonade from $49.00 to $53.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and an average target price of $58.57.

Lemonade Price Performance

The firm has a market capitalization of $6.24 billion, a PE ratio of -34.97 and a beta of 2.13. The company has a 50-day moving average price of $64.67 and a 200 day moving average price of $52.61.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, November 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.21. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The company had revenue of $194.50 million for the quarter, compared to the consensus estimate of $185.06 million. During the same quarter last year, the company earned ($0.95) EPS. The firm’s quarterly revenue was up 42.4% on a year-over-year basis. As a group, research analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 18,930 shares of Lemonade stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $72.77, for a total value of $1,377,536.10. Following the sale, the insider directly owned 83,467 shares in the company, valued at approximately $6,073,893.59. The trade was a 18.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Adina Eckstein sold 41,557 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $78.95, for a total transaction of $3,280,925.15. Following the transaction, the chief operating officer directly owned 204,229 shares of the company’s stock, valued at $16,123,879.55. This trade represents a 16.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 145,052 shares of company stock valued at $10,982,886. 14.70% of the stock is owned by company insiders.

Institutional Trading of Lemonade

Large investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new position in shares of Lemonade during the 3rd quarter valued at approximately $25,000. SVB Wealth LLC purchased a new stake in Lemonade during the first quarter valued at $26,000. Strategic Advocates LLC bought a new position in Lemonade during the third quarter valued at $33,000. NewEdge Advisors LLC purchased a new position in shares of Lemonade in the 1st quarter worth $35,000. Finally, Estabrook Capital Management bought a new stake in shares of Lemonade in the 2nd quarter worth about $44,000. 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.