Lemonade (NYSE:LMND) Stock Price Up 5% – Should You Buy?

Shares of Lemonade, Inc. (NYSE:LMNDGet Free Report) rose 5% during mid-day trading on Tuesday . The stock traded as high as $47.25 and last traded at $46.00. Approximately 1,169,401 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 2,084,130 shares. The stock had previously closed at $43.81.

Analysts Set New Price Targets

A number of brokerages have weighed in on LMND. Morgan Stanley downgraded Lemonade from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Keefe, Bruyette & Woods cut their target price on Lemonade from $25.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Lemonade currently has a consensus rating of “Hold” and an average price target of $28.17.

View Our Latest Analysis on Lemonade

Lemonade Price Performance

The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -14.62 and a beta of 2.14. The business’s fifty day simple moving average is $34.94 and its 200 day simple moving average is $34.34.

Lemonade (NYSE:LMNDGet Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative net margin of 38.90% and a negative return on equity of 36.72%. During the same period last year, the company earned ($0.67) earnings per share. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities research analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $32.84, for a total transaction of $12,718,340.88. Following the transaction, the insider owned 7,111,441 shares in the company, valued at approximately $233,539,722.44. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Adina Eckstein sold 5,000 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the sale, the chief operating officer directly owned 189,653 shares of the company’s stock, valued at approximately $8,534,385. The trade was a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,509,545 shares of company stock worth $78,775,964. 12.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

Several institutional investors have recently bought and sold shares of LMND. SVB Wealth LLC bought a new position in Lemonade during the 1st quarter valued at $26,000. Quarry LP raised its holdings in shares of Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after purchasing an additional 700 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Lemonade during the first quarter valued at about $35,000. Hollencrest Capital Management purchased a new position in Lemonade during the first quarter worth about $41,000. Finally, Russell Investments Group Ltd. grew its position in Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after purchasing an additional 867 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

(Get Free Report)

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.

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