Lemonade (NYSE:LMND) Sets New 52-Week High – Here’s Why

Lemonade, Inc. (NYSE:LMND)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $39.45 and last traded at $39.23, with a volume of 1128828 shares traded. The stock had previously closed at $34.31.

Analyst Ratings Changes

LMND has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Jefferies Financial Group dropped their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Finally, Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $42.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.50.

Lemonade Trading Up 16.0 %

The company’s 50-day moving average price is $21.71 and its 200-day moving average price is $19.07.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.88) EPS. On average, research analysts expect that Lemonade, Inc. will post -3.05 EPS for the current fiscal year.

Insider Transactions at Lemonade

In other news, Director Maria Angelidis-Smith sold 33,554 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the sale, the director now owns 40,916 shares in the company, valued at $1,240,982.28. This represents a 45.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,604 shares of company stock valued at $1,655,085 over the last 90 days. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Axiom Advisory LLC lifted its stake in Lemonade by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock valued at $897,000 after purchasing an additional 850 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Lemonade by 12.1% during the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after acquiring an additional 1,915 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Lemonade by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after acquiring an additional 2,196 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Lemonade by 9.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock worth $482,000 after acquiring an additional 2,582 shares during the last quarter. Institutional investors 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.