Lemonade (NYSE:LMND) Reaches New 1-Year High – What’s Next?

Lemonade, Inc. (NYSE:LMND) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $85.58 and last traded at $85.1260, with a volume of 1843923 shares trading hands. The stock had previously closed at $79.65.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler decreased their target price on Lemonade from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Morgan Stanley set a $85.00 target price on shares of Lemonade and gave the stock an “equal weight” rating in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price target on shares of Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Finally, JMP Securities set a $80.00 price objective on Lemonade in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.50.

Lemonade Trading Up 8.7%

The firm’s 50 day moving average is $75.49 and its two-hundred day moving average is $58.79. The firm has a market cap of $6.47 billion, a P/E ratio of -36.22 and a beta of 1.98.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.21. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. The company had revenue of $194.50 million for the quarter, compared to analysts’ expectations of $185.06 million. During the same period last year, the firm posted ($0.95) earnings per share. The business’s quarterly revenue was up 42.4% compared to the same quarter last year. Analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, insider John Sheldon Peters sold 18,930 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $72.77, for a total value of $1,377,536.10. Following the completion of the transaction, the insider directly owned 83,467 shares in the company, valued at approximately $6,073,893.59. The trade was a 18.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adina Eckstein sold 41,557 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $78.95, for a total value of $3,280,925.15. Following the sale, the chief operating officer directly owned 204,229 shares of the company’s stock, valued at approximately $16,123,879.55. The trade was a 16.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 170,725 shares of company stock valued at $13,064,465. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Analyst IMS Investment Management Services Ltd. raised its stake in shares of Lemonade by 80.7% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock valued at $25,049,000 after purchasing an additional 255,368 shares during the period. Mandatum Life Insurance Co Ltd acquired a new position in shares of Lemonade during the second quarter worth about $202,000. Halter Ferguson Financial Inc. grew its holdings in shares of Lemonade by 101.3% during the third quarter. Halter Ferguson Financial Inc. now owns 575,906 shares of the company’s stock worth $30,828,000 after buying an additional 289,803 shares in the last quarter. Bank of New York Mellon Corp raised its position in Lemonade by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,328 shares of the company’s stock valued at $7,024,000 after buying an additional 6,646 shares during the last quarter. Finally, Titleist Asset Management LLC bought a new stake in Lemonade in the 2nd quarter valued at approximately $203,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.