Lemonade (NYSE:LMND) Shares Up 7.2%

Lemonade, Inc. (NYSE:LMND)’s share price shot up 7.2% during trading on Tuesday . The stock traded as high as $17.43 and last traded at $17.33. 417,686 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,770,411 shares. The stock had previously closed at $16.16.

Analysts Set New Price Targets

Several research firms have commented on LMND. Piper Sandler reissued a “neutral” rating and issued a $17.00 target price on shares of Lemonade in a report on Thursday, February 29th. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. Keefe, Bruyette & Woods boosted their target price on Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. TD Cowen began coverage on Lemonade in a report on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 target price on the stock. Finally, Morgan Stanley boosted their target price on Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.11.

Lemonade Trading Down 0.4 %

The business has a fifty day moving average price of $16.85 and a 200-day moving average price of $16.19.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.18. The firm had revenue of $115.50 million for the quarter, compared to the consensus estimate of $111.71 million. Lemonade had a negative return on equity of 31.29% and a negative net margin of 55.12%. The company’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.93) earnings per share. On average, analysts predict that Lemonade, Inc. will post -3.03 EPS for the current year.

Insider Activity at Lemonade

In other news, CFO Timothy E. Bixby acquired 10,000 shares of Lemonade stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $16.54 per share, for a total transaction of $165,400.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $165,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.70% of the stock is owned by company insiders.

Institutional Trading of Lemonade

A number of hedge funds and other institutional investors have recently bought and sold shares of LMND. SG Americas Securities LLC purchased a new stake in Lemonade in the third quarter worth about $375,000. Exchange Traded Concepts LLC boosted its stake in Lemonade by 135.7% during the third quarter. Exchange Traded Concepts LLC now owns 99,268 shares of the company’s stock valued at $1,153,000 after buying an additional 57,148 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Lemonade in the 3rd quarter valued at approximately $129,000. Asset Management One Co. Ltd. raised its holdings in shares of Lemonade by 48.0% in the third quarter. Asset Management One Co. Ltd. now owns 4,343 shares of the company’s stock worth $50,000 after buying an additional 1,409 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Lemonade in the third quarter worth approximately $117,000. Hedge funds and other institutional investors 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.