Lemonade (NYSE:LMND) Shares Gap Up – Should You Buy?

Lemonade, Inc. (NYSE:LMND) gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

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

Lemonade Trading Down 3.0 %

The business’s fifty day moving average price is $36.09 and its 200 day moving average price is $28.56. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -11.66 and a beta of 2.15.

Insiders Place Their Bets

In other Lemonade news, Director Michael A. Eisenberg sold 12,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $40.15, for a total transaction of $481,800.00. Following the completion of the sale, the director now directly owns 94,670 shares of the company’s stock, valued at approximately $3,801,000.50. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Sheldon Peters sold 1,790 shares of Lemonade stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $45.50, for a total value of $81,445.00. Following the completion of the transaction, the insider now owns 88,493 shares in the company, valued at $4,026,431.50. This trade represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 769,657 shares of company stock valued at $33,868,724. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quarry LP lifted its holdings in shares of Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after purchasing an additional 700 shares in the last quarter. Avior Wealth Management LLC acquired a new position in shares of Lemonade during the 4th quarter worth approximately $40,000. Russell Investments Group Ltd. lifted its stake in Lemonade by 318.8% in the 4th 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. BNP Paribas purchased a new stake in Lemonade in the 4th quarter valued at approximately $57,000. Finally, PNC Financial Services Group Inc. grew its holdings in Lemonade by 116.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after buying an additional 860 shares during the last quarter. Hedge funds and other institutional investors 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.