Lemonade (NYSE:LMND) Sets New 12-Month High - Here's What Happened

Key Points

• Lemonade, Inc. shares reached a new 52-week high of $53.99 during trading, with the stock closing at $52.87.
• Analysts have mixed reviews on Lemonade, with price targets ranging from a low of $15.00 to a high of $30.50, while the current average rating remains a "Hold".
• The company's latest quarterly earnings showed a revenue increase of 34.5% year-over-year, reporting earnings per share of ($0.60), beating estimates by $0.21.

Lemonade, Inc. (NYSE:LMND - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $53.99 and last traded at $52.87, with a volume of 1061073 shares trading hands. The stock had previously closed at $52.37.

Wall Street Analyst Weigh In

LMND has been the topic of a number of recent research reports. Cantor Fitzgerald raised Lemonade to a "strong-buy" rating in a research note on Wednesday. Piper Sandler reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Lemonade in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $26.00 price objective (up from $22.00) on shares of Lemonade in a research note on Tuesday, July 1st. Wall Street Zen raised Lemonade from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets raised their price objective on Lemonade from $15.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $37.71.

Lemonade Price Performance

The company has a market capitalization of $4.24 billion, a P/E ratio of -20.26 and a beta of 2.19. The company has a 50 day moving average of $43.10 and a 200-day moving average of $36.08.

Lemonade (NYSE:LMND - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.21. The company had revenue of $164.10 million for the quarter, compared to analysts' expectations of $160.88 million. Lemonade had a negative return on equity of 36.12% and a negative net margin of 33.96%. Lemonade's quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the firm earned ($0.81) earnings per share. Research analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Activity

In other Lemonade news, COO Adina Eckstein sold 5,000 shares of Lemonade stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $49.00, for a total transaction of $245,000.00. Following the sale, the chief operating officer directly owned 189,653 shares of the company's stock, valued at approximately $9,292,997. The trade was a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Sheldon Peters sold 6,543 shares of Lemonade stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total value of $294,435.00. Following the sale, the insider directly owned 106,115 shares in the company, valued at approximately $4,775,175. The trade was a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,289 shares of company stock worth $825,982 over the last three months. 14.70% of the stock is owned by insiders.

Institutional Trading of Lemonade

Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Lemonade by 4.0% during the second quarter. Ameritas Investment Partners Inc. now owns 5,683 shares of the company's stock valued at $249,000 after purchasing an additional 220 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Lemonade by 3.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company's stock valued at $346,000 after buying an additional 380 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Lemonade by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company's stock valued at $200,000 after buying an additional 423 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Lemonade by 5.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,285 shares of the company's stock valued at $363,000 after buying an additional 458 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Lemonade by 28.3% during the 1st quarter. US Bancorp DE now owns 2,406 shares of the company's stock valued at $76,000 after acquiring an additional 531 shares during the period. 80.30% of the stock is owned by institutional investors.

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.