Lemonade (NYSE:LMND) Trading Up 5.6% – Still a Buy?

Lemonade, Inc. (NYSE:LMND)’s stock price was up 5.6% on Friday . The company traded as high as $38.94 and last traded at $38.41. Approximately 222,984 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 962,767 shares. The stock had previously closed at $36.39.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price objective for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Jefferies Financial Group lowered their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets increased their price objective on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. JMP Securities upped their price target on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Finally, Piper Sandler lifted their price objective on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.43.

Lemonade Price Performance

The company has a market cap of $2.68 billion, a PE ratio of -12.33 and a beta of 2.09. The firm’s 50 day moving average is $37.82 and its 200 day moving average is $24.84.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The firm had revenue of $136.60 million during 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 company posted ($0.88) EPS. As a group, analysts anticipate that Lemonade, Inc. will post -3.04 EPS for the current year.

Insiders Place Their Bets

In related news, Director Maria Angelidis-Smith acquired 18,512 shares of Lemonade stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $27.42 per share, with a total value of $507,599.04. Following the transaction, the director now owns 18,512 shares in the company, valued at $507,599.04. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $43.02, for a total value of $304,022.34. Following the completion of the sale, the insider now directly owns 10,699,211 shares in the company, valued at approximately $460,280,057.22. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 871,514 shares of company stock valued at $37,993,527. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Concurrent Investment Advisors LLC bought a new position in shares of Lemonade during the second quarter valued at $180,000. Van ECK Associates Corp raised its holdings in Lemonade by 12.1% in the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after buying an additional 1,915 shares during the last quarter. American Century Companies Inc. raised its holdings in Lemonade by 12.7% in the second quarter. American Century Companies Inc. now owns 86,757 shares of the company’s stock worth $1,431,000 after buying an additional 9,793 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lemonade by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 64,665 shares of the company’s stock valued at $1,067,000 after buying an additional 5,778 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new position in Lemonade in the 2nd quarter worth approximately $269,000. 80.30% of the stock is currently 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.