Lemonade (NYSE:LMND) Shares Up 7.7% – What’s Next?

Lemonade, Inc. (NYSE:LMND) shares traded up 7.7% on Monday . The company traded as high as $52.43 and last traded at $52.0160. 282,238 shares changed hands during trading, a decline of 86% from the average daily volume of 2,024,178 shares. The stock had previously closed at $48.31.

Analyst Upgrades and Downgrades

LMND has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a report on Thursday. Citizens Jmp dropped their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Piper Sandler reduced their price target on Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday. Finally, TD Cowen restated a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.11.

Lemonade Stock Performance

The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -29.30 and a beta of 1.79. The company’s fifty day simple moving average is $61.08 and its two-hundred day simple moving average is $63.38.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, July 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.56). Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.48%. The business had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same quarter in the prior year, the business posted ($0.60) EPS. The company’s revenue for the quarter was up 79.4% on a year-over-year basis. Sell-side analysts anticipate that Lemonade, Inc. will post -1.75 EPS for the current year.

Insider Activity at Lemonade

In other news, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the transaction, the insider owned 187,573 shares in the company, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the sale, the insider owned 81,386 shares of the company’s stock, valued at $4,308,574.84. This trade represents a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 10,007 shares of company stock valued at $620,201. Insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On Lemonade

A number of institutional investors have recently modified their holdings of LMND. Handelsbanken Fonder AB raised its stake in Lemonade by 12.4% during the second quarter. Handelsbanken Fonder AB now owns 20,800 shares of the company’s stock worth $1,353,000 after acquiring an additional 2,300 shares during the period. Bank of America Corp DE lifted its holdings in shares of Lemonade by 52.1% in the 1st quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock worth $22,591,000 after purchasing an additional 123,484 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Lemonade in the 1st quarter worth approximately $814,000. California State Teachers Retirement System boosted its position in Lemonade by 22.5% during the 1st quarter. California State Teachers Retirement System now owns 72,887 shares of the company’s stock valued at $4,569,000 after purchasing an additional 13,411 shares during the period. Finally, Royal Bank of Canada lifted its stake in Lemonade by 148.5% in the first quarter. Royal Bank of Canada now owns 31,328 shares of the company’s stock valued at $1,964,000 after buying an additional 18,721 shares during the last quarter. 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.