Lemonade, Inc. (NYSE:LMND – Get Free Report) shares rose 6.5% during mid-day trading on Monday . The company traded as high as $54.27 and last traded at $54.68. Approximately 227,562 shares changed hands during trading, a decline of 90% from the average daily volume of 2,272,109 shares. The stock had previously closed at $51.35.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on LMND. Truist Financial reduced their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Citizens Jmp lowered their price target on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Tuesday, April 21st. Morgan Stanley set a $80.00 target price on shares of Lemonade in a research report on Friday, May 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a research note on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.25.
Get Our Latest Stock Analysis on Lemonade
Lemonade Price Performance
Lemonade (NYSE:LMND – Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm’s revenue for the quarter was up 70.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.86) EPS. On average, sell-side analysts forecast that Lemonade, Inc. will post -1.67 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider John Sheldon Peters sold 3,571 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total transaction of $187,477.50. Following the completion of the sale, the insider owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 5,567 shares of company stock worth $287,517 over the last quarter. 12.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Lemonade
A number of large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Lemonade by 186.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock worth $105,644,000 after purchasing an additional 965,321 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Lemonade by 30.8% in the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock valued at $187,685,000 after buying an additional 825,522 shares in the last quarter. BIT Capital GmbH increased its stake in shares of Lemonade by 69.3% in the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock valued at $67,145,000 after buying an additional 513,424 shares in the last quarter. Man Group plc bought a new position in shares of Lemonade in the fourth quarter valued at about $25,978,000. Finally, Goldman Sachs Group Inc. lifted its position in Lemonade by 50.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock worth $61,676,000 after buying an additional 291,122 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors.
About Lemonade
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.
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