Lemonade (NYSE:LMND) Stock Price Up 4.2% After Insider Buying Activity

Lemonade, Inc. (NYSE:LMND)’s stock price rose 4.2% during trading on Thursday following insider buying activity. The stock traded as high as $34.12 and last traded at $33.34. Approximately 282,366 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,651,684 shares. The stock had previously closed at $31.99.

Specifically, Director Maria Angelidis-Smith acquired 15,042 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $33.23 per share, for a total transaction of $499,845.66. Following the acquisition, the director now directly owns 33,554 shares in the company, valued at $1,114,999.42. This represents a 81.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maria Angelidis-Smith acquired 18,512 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $27.42 per share, with a total value of $507,599.04. Following the acquisition, the director now owns 18,512 shares in the company, valued at $507,599.04. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

LMND has been the subject of a number of research reports. Jefferies Financial Group dropped their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Morgan Stanley raised their price target on shares of Lemonade from $15.00 to $23.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Piper Sandler raised their price target on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.33.

Lemonade Stock Performance

The firm’s 50 day moving average price is $20.06 and its two-hundred day moving average price is $18.48. The company has a market cap of $2.38 billion, a P/E ratio of -11.45 and a beta of 1.68.

Lemonade (NYSE:LMND) last posted 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. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter last year, the firm posted ($0.88) EPS. Lemonade’s revenue was up 19.3% compared to the same quarter last year. As a group, analysts forecast that Lemonade, Inc. will post -3.05 EPS for the current fiscal year.

Institutional Trading of Lemonade

Several hedge funds have recently bought and sold shares of LMND. State Street Corp boosted its holdings in Lemonade by 1.2% during the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after acquiring an additional 14,028 shares during the last quarter. Marshall Wace LLP purchased a new position in Lemonade during the 2nd quarter worth $14,181,000. Landscape Capital Management L.L.C. boosted its holdings in Lemonade by 17.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after acquiring an additional 48,260 shares during the last quarter. FMR LLC boosted its holdings in Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after acquiring an additional 153,362 shares during the last quarter. Finally, General Equity Holdings LP purchased a new position in Lemonade during the 2nd quarter worth $5,198,000. Institutional investors and hedge funds 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.