Lemonade (NYSE:LMND) Shares Up 4.2% After Insider Buying Activity

Shares of Lemonade, Inc. (NYSE:LMND) traded up 4.2% on Thursday after an insider bought additional shares in the company. The company traded as high as $34.12 and last traded at $33.34. 282,366 shares were traded during trading, a decline of 83% from the average session volume of 1,651,684 shares. The stock had previously closed at $31.99.

Specifically, Director Maria Angelidis-Smith bought 15,042 shares of the stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of $33.23 per share, for a total transaction of $499,845.66. Following the purchase, the director now directly owns 33,554 shares of the company’s stock, valued at approximately $1,114,999.42. This trade represents a 81.26 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Angelidis-Smith purchased 18,512 shares of the stock in a transaction dated Friday, November 8th. The stock was purchased at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the acquisition, the director now owns 18,512 shares of the company’s stock, valued at approximately $507,599.04. This represents a ∞ increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LMND shares. 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 research report on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Piper Sandler raised their price target on Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group reduced their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.83.

Lemonade Trading Down 0.8 %

The stock has a 50 day simple moving average of $19.81 and a 200-day simple moving average of $18.39. The firm has a market capitalization of $2.27 billion, a P/E ratio of -10.44 and a beta of 1.68.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same period in the previous year, the firm earned ($0.88) EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts expect that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares in the last quarter. Quest Partners LLC lifted its holdings in Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after purchasing an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Lemonade in the 2nd quarter worth approximately $180,000. Bristlecone Advisors LLC purchased a new position in Lemonade in the 3rd quarter worth approximately $218,000. Finally, Intech Investment Management LLC purchased a new position in Lemonade in the 3rd quarter worth approximately $264,000. 80.30% of the stock is owned by hedge funds and other 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.