Lemonade (NYSE:LMND) Sets New 1-Year High – Should You Buy?

Lemonade, Inc. (NYSE:LMND) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $85.20 and last traded at $82.92, with a volume of 776590 shares changing hands. The stock had previously closed at $81.36.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup reiterated a “market outperform” rating on shares of Lemonade in a research report on Monday, November 24th. JMP Securities set a $80.00 price objective on shares of Lemonade in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Morgan Stanley set a $85.00 price target on Lemonade and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.14.

Lemonade Trading Down 0.2%

The firm has a 50-day moving average of $66.63 and a 200 day moving average of $54.06. The company has a market cap of $6.07 billion, a P/E ratio of -34.06 and a beta of 2.13.

Lemonade (NYSE:LMND) last issued its quarterly 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. The firm had revenue of $194.50 million for the quarter, compared to analyst estimates of $185.06 million. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The company’s revenue was up 42.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.95) earnings per share. On average, equities analysts predict that Lemonade, Inc. will post -3.03 EPS for the current year.

Insider Buying and Selling

In other news, Director Debra Schwartz sold 4,200 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $83.59, for a total transaction of $351,078.00. Following the transaction, the director owned 21,567 shares of the company’s stock, valued at $1,802,785.53. This represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Adina Eckstein sold 41,557 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $78.95, for a total value of $3,280,925.15. Following the completion of the sale, the chief operating officer owned 204,229 shares of the company’s stock, valued at approximately $16,123,879.55. This represents a 16.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,725 shares of company stock valued at $12,264,465 over the last ninety days. 12.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

A number of hedge funds have recently added to or reduced their stakes in LMND. Vanguard Group Inc. raised its position in shares of Lemonade by 0.9% during the third quarter. Vanguard Group Inc. now owns 6,279,141 shares of the company’s stock worth $336,122,000 after purchasing an additional 57,856 shares during the period. JPMorgan Chase & Co. increased its stake in Lemonade by 30.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock valued at $187,685,000 after purchasing an additional 825,522 shares in the last quarter. Geode Capital Management LLC raised its holdings in Lemonade by 4.9% during the second quarter. Geode Capital Management LLC now owns 1,297,943 shares of the company’s stock worth $56,871,000 after buying an additional 60,853 shares during the last quarter. BIT Capital GmbH lifted its stake in shares of Lemonade by 69.3% in the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock valued at $67,145,000 after buying an additional 513,424 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Lemonade by 28.1% in the second quarter. Bank of America Corp DE now owns 993,669 shares of the company’s stock valued at $43,533,000 after buying an additional 217,913 shares in the last quarter. 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.