Lemonade (NYSE:LMND) Trading Up 10.6% – Here’s What Happened

Lemonade, Inc. (NYSE:LMND) shot up 10.6% during trading on Thursday . The company traded as high as $34.62 and last traded at $34.81. 1,041,160 shares were traded during trading, a decline of 50% from the average session volume of 2,100,376 shares. The stock had previously closed at $31.48.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LMND. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. JMP Securities raised their price objective on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Finally, Piper Sandler dropped their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lemonade presently has a consensus rating of “Hold” and an average price target of $31.00.

Lemonade Stock Performance

The business’s 50 day moving average is $35.11 and its 200-day moving average is $29.37. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -11.90 and a beta of 2.15.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $144.78 million. Sell-side analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, Director Michael A. Eisenberg sold 12,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $40.15, for a total value of $481,800.00. Following the transaction, the director now owns 94,670 shares in the company, valued at approximately $3,801,000.50. This trade represents a 11.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $43.02, for a total value of $304,022.34. Following the completion of the transaction, the insider now owns 10,699,211 shares in the company, valued at $460,280,057.22. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 769,657 shares of company stock worth $33,868,724. Corporate insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LMND. Quarry LP raised its holdings in shares of Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after acquiring an additional 700 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Lemonade during the 4th quarter worth $40,000. Russell Investments Group Ltd. raised its holdings in shares of Lemonade by 318.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after acquiring an additional 867 shares during the period. Blue Trust Inc. raised 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 acquiring an additional 1,879 shares during the period. Finally, BNP Paribas purchased a new position in shares of Lemonade during the 4th quarter worth $57,000. Hedge funds and other 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.