Lemonade (NYSE:LMND) Sets New 1-Year High at $138.01

Shares of Lemonade, Inc. (NYSE:LMND) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $138.01 and last traded at $122.88, with a volume of 38715 shares. The stock had previously closed at $129.89.

LMND has been the topic of several research analyst reports. Credit Suisse Group initiated coverage on Lemonade in a report on Thursday, October 15th. They issued an “underperform” rating and a $56.00 price objective on the stock. Piper Sandler boosted their target price on Lemonade from $71.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, December 16th. Finally, ValuEngine upgraded Lemonade from a “hold” rating to a “buy” rating in a report on Thursday, October 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $83.80.

The company has a fifty day moving average of $87.99.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.57) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.12. The firm had revenue of $17.80 million for the quarter, compared to analysts’ expectations of $14.73 million. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Lemonade, Inc. will post -4.36 earnings per share for the current fiscal year.

In other news, CFO Timothy E. Bixby sold 20,000 shares of Lemonade stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $64.41, for a total transaction of $1,288,200.00. Following the sale, the chief financial officer now owns 348,800 shares of the company’s stock, valued at approximately $22,466,208. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel A. Schreiber sold 77,800 shares of Lemonade stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $57.20, for a total transaction of $4,450,160.00. Following the sale, the chief executive officer now directly owns 868,693 shares in the company, valued at approximately $49,689,239.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,062,315 shares of company stock worth $97,580,523.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Lemonade in the third quarter valued at approximately $1,068,000. Sei Investments Co. purchased a new stake in Lemonade in the third quarter valued at approximately $206,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Lemonade in the third quarter valued at approximately $3,339,000. Eudaimonia Partners LLC purchased a new stake in Lemonade in the third quarter valued at approximately $37,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Lemonade in the third quarter valued at approximately $249,000. 3.64% of the stock is currently owned by institutional investors.

Lemonade Company Profile (NYSE:LMND)

Lemonade, Inc provides various insurance products in the United States and Europe. Its insurance products cover 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. The company also offers landlord insurance policies to condo and co-op owners who rent out their property to protect their real and personal properties.

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