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

Lemonade, Inc. (NYSE:LMND)’s share price gapped up before the market opened on Monday . The stock had previously closed at $41.91, but opened at $44.91. Lemonade shares last traded at $44.85, with a volume of 1,440,820 shares changing hands.

Analyst Upgrades and Downgrades

LMND has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. Piper Sandler upped 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 cut shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. JMP Securities upped their price objective on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group decreased their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.43.

Lemonade Stock Up 4.9 %

The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -15.12 and a beta of 2.09. The company’s 50-day moving average is $31.63 and its 200-day moving average is $22.60.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.88) earnings per share. On average, research analysts forecast that Lemonade, Inc. will post -3.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Maya Prosor sold 30,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total value of $1,500,000.00. Following the sale, the insider now directly owns 29,286 shares of the company’s stock, valued at approximately $1,464,300. The trade was a 50.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the sale, the chief operating officer now directly owns 189,653 shares in the company, valued at $9,482,650. This trade represents a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,842 shares of company stock valued at $5,245,653. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Axiom Advisory LLC boosted its holdings in Lemonade by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock valued at $897,000 after purchasing an additional 850 shares during the period. Blue Trust Inc. lifted its stake in Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares during the last quarter. Van ECK Associates Corp lifted its stake in Lemonade by 12.1% in the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after purchasing an additional 1,915 shares during the last quarter. Tidal Investments LLC increased its position in Lemonade by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock valued at $752,000 after acquiring an additional 2,017 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Lemonade by 9.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $482,000 after acquiring an additional 2,582 shares during the period. 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.