Lemonade (NYSE:LMND) Shares Gap Up – Should You Buy?

Lemonade, Inc. (NYSE:LMND)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $36.73, but opened at $38.30. Lemonade shares last traded at $38.46, with a volume of 348,690 shares trading hands.

Analysts Set New Price Targets

LMND has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and increased their price target for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. JMP Securities raised their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler upped their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.67.

Lemonade Stock Performance

The stock has a 50-day moving average price of $37.36 and a 200-day moving average price of $27.86.

Insider Transactions at Lemonade

In related news, insider John Sheldon Peters sold 28,985 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the completion of the sale, the insider now owns 69,508 shares of the company’s stock, valued at $2,687,874.36. This represents a 29.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of Lemonade stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $43.02, for a total value of $304,022.34. Following the completion of the transaction, the insider now owns 10,699,211 shares of the company’s stock, 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. In the last 90 days, insiders sold 846,945 shares of company stock valued at $37,496,684. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after buying an additional 153,362 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Lemonade by 99.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,762 shares of the company’s stock valued at $903,000 after acquiring an additional 27,265 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Lemonade during the third quarter valued at approximately $1,571,000. GSA Capital Partners LLP raised its holdings in Lemonade by 31.0% during the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after purchasing an additional 42,822 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Lemonade by 1,549.0% during the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after purchasing an additional 18,480 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.