Lemonade (NYSE:LMND) Shares Up 7.4% – What’s Next?

Shares of Lemonade, Inc. (NYSE:LMND) shot up 7.4% during mid-day trading on Thursday . The stock traded as high as $35.89 and last traded at $34.76. 1,126,541 shares traded hands during trading, a decline of 36% from the average session volume of 1,762,541 shares. The stock had previously closed at $32.36.

Wall Street Analysts Forecast Growth

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

Lemonade Trading Up 13.4 %

The company’s 50 day simple moving average is $36.84 and its 200-day simple moving average is $27.96. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -12.07 and a beta of 2.15.

Insider Buying and Selling at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the sale, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $7,586,120. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Eisenberg sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $40.15, for a total transaction of $481,800.00. Following the transaction, the director now directly owns 94,670 shares of the company’s stock, valued at $3,801,000.50. This trade represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 846,945 shares of company stock worth $37,496,684. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its position in Lemonade by 6.8% in the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock valued at $215,000 after purchasing an additional 375 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Lemonade by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock valued at $5,545,000 after buying an additional 442 shares during the period. Nisa Investment Advisors LLC lifted its position in Lemonade by 4.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock worth $390,000 after acquiring an additional 500 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Lemonade by 116.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock worth $59,000 after acquiring an additional 860 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings 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 acquiring an additional 867 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.