Lemonade (NYSE:LMND) Stock Price Up 5.6% – Time to Buy?

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

Wall Street Analyst Weigh In

LMND has been the subject of several recent research reports. Piper Sandler lifted their price target on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Jefferies Financial Group decreased their price target on 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 lifted 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. Finally, JMP Securities increased their target price on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.43.

Lemonade Price Performance

The firm has a market capitalization of $2.71 billion, a P/E ratio of -12.48 and a beta of 2.09. The firm has a 50-day moving average price of $38.21 and a two-hundred day moving average price of $25.06.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The company had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm’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. Sell-side analysts predict that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, Director Maria Angelidis-Smith bought 18,512 shares of the company’s stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $27.42 per share, with a total value of $507,599.04. Following the transaction, the director now owns 18,512 shares of the company’s stock, valued at $507,599.04. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the completion of the transaction, the insider now directly owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 900,499 shares of company stock valued at $39,114,376 in the last ninety days. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of institutional investors have recently modified their holdings of LMND. Van ECK Associates Corp boosted its stake in Lemonade by 12.1% in the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after acquiring an additional 1,915 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Lemonade by 12.7% in the 2nd quarter. American Century Companies Inc. now owns 86,757 shares of the company’s stock worth $1,431,000 after purchasing an additional 9,793 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lemonade by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 64,665 shares of the company’s stock worth $1,067,000 after buying an additional 5,778 shares during the last quarter. Seven Eight Capital LP acquired a new position in Lemonade during the 2nd quarter valued at about $269,000. Finally, General Equity Holdings LP acquired a new position in Lemonade during the 2nd quarter valued at about $5,198,000. 80.30% of the stock is currently owned by institutional investors.

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.