Lemonade (NYSE:LMND) Shares Up 7.8% - What's Next?

Lemonade, Inc. (NYSE:LMND - Get Free Report)'s share price shot up 7.8% on Friday . The stock traded as high as $38.35 and last traded at $38.54. 759,228 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 1,977,376 shares. The stock had previously closed at $35.76.

Analyst Upgrades and Downgrades

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

Lemonade Stock Performance

The company has a market cap of $3.01 billion, a PE ratio of -13.52 and a beta of 2.14. The company's 50-day simple moving average is $30.28 and its 200 day simple moving average is $34.81.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Lemonade's revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.67) earnings per share. Analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current year.

Insider Transactions at Lemonade

In other news, insider John Sheldon Peters sold 1,494 shares of the business's stock in a transaction dated 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 directly owns 106,115 shares in the company, valued at $3,740,553.75. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the transaction, the insider now owns 10,494,636 shares in the company, valued at approximately $389,141,102.88. This trade represents a 1.91% decrease in their ownership of the stock. 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 over the last ninety days. 14.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock worth $49,494,000 after buying an additional 1,299,891 shares during the period. Vanguard Group Inc. grew its position in Lemonade by 14.9% during the first quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company's stock worth $192,931,000 after buying an additional 794,952 shares during the period. Two Sigma Investments LP acquired a new position in Lemonade during the fourth quarter worth about $22,066,000. Voloridge Investment Management LLC acquired a new position in Lemonade during the fourth quarter worth about $21,310,000. Finally, Two Sigma Advisers LP acquired a new position in Lemonade during the fourth quarter worth about $15,412,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.