Lemonade (NYSE:LMND) Shares Up 7.4% – Time to Buy?

Shares of Lemonade, Inc. (NYSE:LMND) were up 7.4% during trading on Wednesday . The company traded as high as $68.61 and last traded at $69.85. Approximately 159,422 shares were traded during trading, a decline of 92% from the average daily volume of 2,078,345 shares. The stock had previously closed at $65.05.

Wall Street Analyst Weigh In

LMND has been the topic of a number of research analyst reports. TD Cowen reiterated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Piper Sandler dropped their price target on Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. UBS Group set a $75.00 price objective on Lemonade in a research note on Thursday, May 21st. Finally, Truist Financial decreased their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.89.

Lemonade Trading Up 7.2%

The stock has a market capitalization of $5.36 billion, a PE ratio of -37.26 and a beta of 1.83. The business’s 50-day moving average is $57.84 and its two-hundred day moving average is $65.46.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The company had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $251.51 million. During the same quarter in the previous year, the firm posted ($0.86) earnings per share. The firm’s quarterly revenue was up 70.6% on a year-over-year basis. On average, analysts predict that Lemonade, Inc. will post -1.71 EPS for the current year.

Insider Activity

In other Lemonade news, insider John Sheldon Peters sold 3,608 shares of Lemonade stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total transaction of $191,007.52. Following the sale, the insider directly owned 81,386 shares in the company, valued at $4,308,574.84. The trade was a 4.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, 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 sale, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 6,563 shares of company stock worth $348,125. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in Lemonade by 107.3% in the first quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after purchasing an additional 15,779 shares in the last quarter. Millennium Management LLC raised its stake in Lemonade by 255.2% during the first quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after buying an additional 237,044 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Lemonade during the first quarter valued at approximately $35,000. Goldman Sachs Group Inc. lifted its holdings in Lemonade by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock worth $19,244,000 after buying an additional 41,759 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in Lemonade during the 2nd quarter worth approximately $307,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.