Lemonade (NYSE:LMND) Reaches New 52-Week High – Here’s Why

Lemonade, Inc. (NYSE:LMND) hit a new 52-week high on Wednesday . The company traded as high as $85.20 and last traded at $82.92, with a volume of 776590 shares trading hands. The stock had previously closed at $81.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LMND shares. Citigroup reaffirmed a “market outperform” rating on shares of Lemonade in a research report on Monday, November 24th. Citizens Jmp upped their price target on shares of Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a report on Monday, November 24th. Morgan Stanley set a $85.00 price objective on shares of Lemonade and gave the company an “equal weight” rating in a research note on Tuesday. JMP Securities set a $80.00 target price on shares of Lemonade in a research note on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.14.

Lemonade Trading Up 4.7%

The firm has a market cap of $6.19 billion, a P/E ratio of -34.64 and a beta of 2.13. The business’s 50-day moving average is $67.68 and its two-hundred day moving average is $54.43.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.21. The company had revenue of $194.50 million during the quarter, compared to the consensus estimate of $185.06 million. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.Lemonade’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.95) earnings per share. On average, analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Sheldon Peters sold 3,554 shares of Lemonade stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $81.00, for a total value of $287,874.00. Following the sale, the insider directly owned 70,771 shares in the company, valued at $5,732,451. This trade represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Debra Schwartz sold 4,200 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.59, for a total transaction of $351,078.00. Following the completion of the transaction, the director owned 21,567 shares of the company’s stock, valued at approximately $1,802,785.53. This trade represents a 16.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 160,725 shares of company stock valued at $12,264,465 over the last three months. Company insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMND. Strategic Advocates LLC acquired a new stake in Lemonade in the 3rd quarter valued at approximately $33,000. CIBC Bancorp USA Inc. bought a new position in shares of Lemonade in the third quarter worth $318,000. Advisory Services Network LLC bought a new position in shares of Lemonade in the third quarter worth $216,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Lemonade by 11.6% in the third quarter. CANADA LIFE ASSURANCE Co now owns 17,769 shares of the company’s stock worth $966,000 after purchasing an additional 1,844 shares in the last quarter. Finally, Worth Venture Partners LLC acquired a new position in shares of Lemonade during the third quarter valued at $297,000. 80.30% of the stock is owned by institutional investors.

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.