Lemonade (NYSE:LMND) Shares Up 7.4% - What's Next?

Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) rose 7.4% on Thursday . The company traded as high as $35.89 and last traded at $34.76. Approximately 1,126,541 shares traded hands during trading, a decline of 36% from the average daily volume of 1,762,541 shares. The stock had previously closed at $32.36.

Analyst Upgrades and Downgrades

LMND has been the topic of several research reports. Morgan Stanley upgraded Lemonade from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. BMO Capital Markets boosted their price objective on Lemonade from $13.00 to $15.00 and gave the company an "underperform" rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods cut Lemonade from a "market perform" rating to an "underperform" rating and raised their target price for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. JMP Securities boosted their price target on shares of Lemonade from $40.00 to $60.00 and gave the company a "market outperform" rating in a report on Friday, November 22nd. 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 report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $32.67.

Lemonade Stock Down 2.8 %

The business has a 50-day simple moving average of $36.27 and a two-hundred day simple moving average of $28.35. The stock has a market capitalization of $2.58 billion, a P/E ratio of -11.88 and a beta of 2.15.

Insider Transactions at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 28,985 shares of Lemonade stock in a transaction on Monday, December 30th. The stock was sold at an average price of $38.67, for a total value of $1,120,849.95. Following the completion of the transaction, the insider now owns 69,508 shares in the company, valued at approximately $2,687,874.36. The trade was a 29.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was 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 directly owns 10,699,211 shares in the company, valued at approximately $460,280,057.22. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 846,945 shares of company stock valued at $37,496,684. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its position in Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company's stock valued at $34,000 after purchasing an additional 700 shares during the period. Avior Wealth Management LLC bought a new position in shares of Lemonade in the 4th quarter worth $40,000. Russell Investments Group Ltd. grew its stake in shares of Lemonade by 318.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company's stock worth $42,000 after purchasing an additional 867 shares during the period. Blue Trust Inc. increased its holdings in Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company's stock valued at $45,000 after purchasing an additional 1,879 shares during the last quarter. Finally, BNP Paribas acquired a new position in Lemonade in the fourth quarter valued at about $57,000. Institutional investors 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.