Lemonade (NYSE:LMND) Stock Price Up 7.9% – Still a Buy?

Lemonade, Inc. (NYSE:LMND) shares rose 7.9% during trading on Tuesday . The company traded as high as $81.98 and last traded at $81.0030. Approximately 1,033,953 shares traded hands during trading, a decline of 58% from the average daily volume of 2,433,377 shares. The stock had previously closed at $75.07.

Wall Street Analyst Weigh In

Several analysts have commented on LMND shares. Keefe, Bruyette & Woods lifted their price objective on shares of Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 25th. Morgan Stanley set a $85.00 price target on shares of Lemonade and gave the company an “equal weight” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Citizens Jmp boosted their price objective on Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a research note on Monday, November 24th. Finally, JMP Securities set a $80.00 price objective on shares of Lemonade in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.14.

Lemonade Stock Performance

The stock has a market cap of $6.10 billion, a P/E ratio of -34.07 and a beta of 2.13. The stock has a 50-day moving average price of $66.10 and a 200-day moving average price of $53.72.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, November 5th. The company reported ($0.51) earnings per share for the quarter, beating 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 business had revenue of $194.50 million for the quarter, compared to the consensus estimate of $185.06 million. During the same period last year, the firm posted ($0.95) earnings per share. Lemonade’s quarterly revenue was up 42.4% on a year-over-year basis. Sell-side analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In related news, Director Debra Schwartz sold 4,200 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $83.59, for a total value of $351,078.00. Following the transaction, the director owned 21,567 shares of the company’s stock, valued at $1,802,785.53. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Sheldon Peters sold 3,554 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $81.00, for a total value of $287,874.00. Following the transaction, the insider owned 70,771 shares in the company, valued at approximately $5,732,451. The trade was a 4.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 160,725 shares of company stock valued at $12,264,465. Insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of Lemonade by 28.3% during the first quarter. US Bancorp DE now owns 2,406 shares of the company’s stock valued at $76,000 after purchasing an additional 531 shares during the last quarter. Vanguard Group Inc. grew its position in Lemonade by 14.9% during the 1st quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company’s stock valued at $192,931,000 after purchasing an additional 794,952 shares during the last quarter. Invesco Ltd. grew its position in Lemonade by 92.0% during the 1st quarter. Invesco Ltd. now owns 147,319 shares of the company’s stock valued at $4,630,000 after purchasing an additional 70,601 shares during the last quarter. Nuveen LLC purchased a new position in Lemonade in the first quarter worth about $4,426,000. Finally, Circle Wealth Management LLC raised its holdings in Lemonade by 49.0% in the first quarter. Circle Wealth Management LLC now owns 8,882 shares of the company’s stock worth $279,000 after buying an additional 2,920 shares during the last quarter. Hedge funds and other 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.