Lemonade (NYSE:LMND) Shares Gap Up – Here’s What Happened

Lemonade, Inc. (NYSE:LMND) gapped up prior to trading on Tuesday . The stock had previously closed at $36.12, but opened at $38.00. Lemonade shares last traded at $40.83, with a volume of 844,010 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. JMP Securities boosted their price objective on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets raised their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.67.

Lemonade Trading Down 3.0 %

The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -11.66 and a beta of 2.15. The company has a fifty day simple moving average of $36.09 and a 200-day simple moving average of $28.56.

Insider Buying and Selling

In other Lemonade news, Director Michael A. Eisenberg sold 12,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $40.15, for a total transaction of $481,800.00. Following the transaction, the director now directly owns 94,670 shares of the company’s stock, valued at $3,801,000.50. This represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $44.29, for a total value of $31,880,606.35. Following the completion of the transaction, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 769,657 shares of company stock worth $33,868,724. 12.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LMND. Voloridge Investment Management LLC bought a new stake in Lemonade in the 4th quarter valued at $21,310,000. Two Sigma Advisers LP acquired a new position in shares of Lemonade during the fourth quarter valued at about $15,412,000. Two Sigma Investments LP acquired a new position in shares of Lemonade during the fourth quarter valued at about $22,066,000. ProShare Advisors LLC bought a new stake in shares of Lemonade in the fourth quarter valued at about $539,000. Finally, Nia Impact Advisors LLC acquired a new stake in Lemonade during the fourth quarter worth about $1,648,000. Institutional investors and hedge funds 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.