Lemonade (NYSE:LMND) Shares Up 9.5% – Still a Buy?

Lemonade, Inc. (NYSE:LMND) traded up 9.5% on Monday . The company traded as high as $37.88 and last traded at $37.85. 387,010 shares changed hands during trading, a decline of 79% from the average session volume of 1,856,692 shares. The stock had previously closed at $34.58.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.00.

Lemonade Stock Up 6.6 %

The stock has a market cap of $2.68 billion, a PE ratio of -12.13 and a beta of 2.12. The company has a fifty day moving average price of $34.25 and a 200 day moving average price of $31.36.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.19. The company had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. As a group, research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 28,985 shares of Lemonade stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the sale, the insider now directly owns 69,508 shares of the company’s stock, valued at approximately $2,687,874.36. The trade was a 29.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its position in shares of Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Lemonade by 99.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after buying an additional 27,265 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Lemonade during the 3rd quarter valued at $1,571,000. Strategic Financial Concepts LLC purchased a new stake in Lemonade during the 4th quarter valued at $2,712,000. Finally, Barclays PLC increased its stake in shares of Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after purchasing an additional 65,144 shares in the last quarter. 80.30% of the stock is owned by institutional investors.

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.