Lemonade (NYSE:LMND) Trading Up 9.5% - Time to Buy?

Lemonade, Inc. (NYSE:LMND - Get Free Report) shares shot up 9.5% during trading on Monday . The stock traded as high as $37.88 and last traded at $37.85. 387,010 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,856,692 shares. The stock had previously closed at $34.58.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price objective on Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $31.00.

Lemonade Stock Down 4.5 %

The firm has a 50 day moving average price of $34.54 and a 200-day moving average price of $31.65. The stock has a market capitalization of $2.35 billion, a PE ratio of -10.63 and a beta of 2.12.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.19. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $148.80 million for the quarter, compared to the consensus estimate of $144.78 million. Equities analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

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Insider Activity

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock in a transaction on Monday, March 24th. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00. Following the completion of the transaction, the insider now owns 10,494,636 shares of the company's stock, valued at approximately $389,141,102.88. The trade was a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Sheldon Peters sold 1,899 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the transaction, the insider now owns 87,609 shares of the company's stock, valued at approximately $2,960,308.11. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,459 shares of company stock valued at $8,770,658 in the last quarter. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lemonade

A number of large investors have recently bought and sold shares of LMND. Jones Financial Companies Lllp raised its stake in shares of Lemonade by 6.8% during the 4th quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company's stock worth $215,000 after buying an additional 375 shares during the period. Summit Investment Advisors Inc. increased its holdings in Lemonade by 8.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company's stock worth $200,000 after acquiring an additional 423 shares in the last quarter. Bank of New York Mellon Corp raised its position in Lemonade by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company's stock worth $5,545,000 after acquiring an additional 442 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Lemonade by 4.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company's stock valued at $390,000 after purchasing an additional 500 shares in the last quarter. Finally, Quarry LP grew its position 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 period. Institutional investors and hedge funds own 80.30% of the company's stock.

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.