Lemonade (NYSE:LMND) Stock Price Up 6.7% - What's Next?

Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) shot up 6.7% during trading on Wednesday . The company traded as high as $40.37 and last traded at $40.43. 2,192,360 shares changed hands during trading, an increase of 8% from the average session volume of 2,034,677 shares. The stock had previously closed at $37.87.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler dropped their price objective on Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley lowered Lemonade from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday, April 22nd. Four analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $28.17.

Lemonade Price Performance

The stock has a 50 day moving average of $32.07 and a two-hundred day moving average of $34.48. The stock has a market capitalization of $2.96 billion, a PE ratio of -13.30 and a beta of 2.14.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 38.90% and a negative return on equity of 36.72%. During the same quarter in the previous year, the company posted ($0.67) earnings per share. The business's revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 1,494 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $35.25, for a total transaction of $52,663.50. Following the transaction, the insider now owns 106,115 shares of the company's stock, valued at approximately $3,740,553.75. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total value of $1,569,195.20. Following the completion of the sale, the insider now directly owns 10,452,476 shares of the company's stock, valued at approximately $389,041,156.72. This represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,744,737 shares of company stock worth $87,411,365 in the last quarter. Company insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On Lemonade

A number of institutional investors have recently bought and sold shares of the stock. SVB Wealth LLC acquired a new position in shares of Lemonade in the 1st quarter valued at about $26,000. Quarry LP grew its holdings in shares of Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company's stock worth $34,000 after purchasing an additional 700 shares during the period. NewEdge Advisors LLC acquired a new stake in Lemonade during the 1st quarter worth approximately $35,000. Hollencrest Capital Management purchased a new position in Lemonade in the first quarter valued at approximately $41,000. Finally, Russell Investments Group Ltd. lifted its position in Lemonade by 318.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company's stock valued at $42,000 after buying an additional 867 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

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