Insider Buying: Lemonade, Inc. (NYSE:LMND) CFO Purchases 15,000 Shares of Stock

Lemonade, Inc. (NYSE:LMND) CFO Timothy E. Bixby acquired 15,000 shares of the stock in a transaction on Thursday, June 13th. The shares were purchased at an average price of $15.51 per share, for a total transaction of $232,650.00. Following the completion of the transaction, the chief financial officer now owns 25,000 shares in the company, valued at approximately $387,750. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lemonade Price Performance

Shares of LMND stock traded up $0.52 on Monday, hitting $14.90. The company’s stock had a trading volume of 1,583,853 shares, compared to its average volume of 1,681,544. Lemonade, Inc. has a fifty-two week low of $10.27 and a fifty-two week high of $24.81. The firm’s fifty day moving average price is $16.76 and its 200-day moving average price is $16.89. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.76 and a beta of 1.79.

Lemonade (NYSE:LMND) last announced its earnings results on Tuesday, April 30th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.14. The firm had revenue of $119.10 million for the quarter, compared to the consensus estimate of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.95) EPS. Analysts predict that Lemonade, Inc. will post -2.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a research note on Monday, April 15th. Piper Sandler lifted their target price on shares of Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Jefferies Financial Group lifted their target price on shares of Lemonade from $14.00 to $16.00 and gave the company an “underperform” rating in a research note on Tuesday, May 7th. Keefe, Bruyette & Woods lifted their target price on shares of Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Monday, March 4th. Finally, Morgan Stanley lifted their target price on shares of Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP bought a new stake in Lemonade in the fourth quarter valued at about $272,000. Algert Global LLC boosted its position in Lemonade by 57.0% in the third quarter. Algert Global LLC now owns 96,058 shares of the company’s stock valued at $1,116,000 after buying an additional 34,860 shares in the last quarter. Swiss National Bank boosted its position in Lemonade by 1.2% in the third quarter. Swiss National Bank now owns 114,500 shares of the company’s stock valued at $1,330,000 after buying an additional 1,400 shares in the last quarter. Seven Eight Capital LP acquired a new position in Lemonade in the third quarter valued at about $704,000. Finally, SG Americas Securities LLC boosted its position in Lemonade by 32.2% in the fourth quarter. SG Americas Securities LLC now owns 42,634 shares of the company’s stock valued at $688,000 after buying an additional 10,376 shares in the last quarter. 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.