Lemonade (NYSE:LMND) Trading Up 7.7% – What’s Next?

Shares of Lemonade, Inc. (NYSE:LMND) shot up 7.7% during mid-day trading on Monday . The stock traded as high as $52.43 and last traded at $52.0160. 282,238 shares traded hands during trading, a decline of 86% from the average session volume of 2,024,178 shares. The stock had previously closed at $48.31.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LMND shares. Piper Sandler dropped their target price on Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Morgan Stanley restated an “equal weight” rating and issued a $75.00 price target on shares of Lemonade in a report on Wednesday, July 8th. Citizens Jmp dropped their price objective on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Finally, Truist Financial cut their price objective on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.11.

Lemonade Stock Up 10.4%

The company has a 50 day simple moving average of $61.08 and a 200 day simple moving average of $63.38. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -29.30 and a beta of 1.79.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). Lemonade had a negative return on equity of 26.48% and a negative net margin of 14.19%.The business had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same period in the previous year, the company posted ($0.60) EPS. The company’s revenue was up 79.4% compared to the same quarter last year. On average, research analysts forecast that Lemonade, Inc. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares in the company, valued at $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52. Following the sale, the insider owned 81,386 shares of the company’s stock, valued at approximately $4,308,574.84. This represents a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 10,007 shares of company stock worth $620,201. 12.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

Several institutional investors and hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB raised its holdings in shares of Lemonade by 12.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 20,800 shares of the company’s stock valued at $1,353,000 after buying an additional 2,300 shares during the period. Bank of America Corp DE boosted its holdings in Lemonade by 52.1% in the 1st quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock worth $22,591,000 after acquiring an additional 123,484 shares during the period. Edgestream Partners L.P. acquired a new stake in Lemonade in the first quarter valued at approximately $814,000. California State Teachers Retirement System grew its position in Lemonade by 22.5% in the first quarter. California State Teachers Retirement System now owns 72,887 shares of the company’s stock valued at $4,569,000 after acquiring an additional 13,411 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Lemonade by 148.5% during the first quarter. Royal Bank of Canada now owns 31,328 shares of the company’s stock valued at $1,964,000 after purchasing an additional 18,721 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.