Lemonade, Inc. (NYSE:LMND) Short Interest Up 19.8% in January

Lemonade, Inc. (NYSE:LMND) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 16,850,000 shares, an increase of 19.8% from the December 31st total of 14,060,000 shares. Currently, 31.8% of the company’s stock are short sold. Based on an average daily volume of 2,590,000 shares, the short-interest ratio is presently 6.5 days.

Lemonade Stock Down 2.9 %

Lemonade stock traded down $0.98 during trading hours on Monday, hitting $32.26. The stock had a trading volume of 205,855 shares, compared to its average volume of 1,633,457. Lemonade has a one year low of $14.03 and a one year high of $53.85. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -10.55 and a beta of 2.15. The business’s 50 day simple moving average is $39.05 and its 200-day simple moving average is $27.31.

Analysts Set New Price Targets

Several analysts have recently issued reports on LMND shares. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and increased their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler increased their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. BMO Capital Markets increased their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Finally, JMP Securities increased their target price on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.67.

Insider Transactions at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 1,790 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $45.50, for a total value of $81,445.00. Following the transaction, the insider now directly owns 88,493 shares of the company’s stock, valued at $4,026,431.50. This represents a 1.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $44.29, for a total value of $31,880,606.35. Following the completion of the transaction, the insider now directly owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 900,499 shares of company stock worth $39,114,376 in the last 90 days. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several large investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after acquiring an additional 14,028 shares during the period. Landscape Capital Management L.L.C. grew its stake in Lemonade by 17.6% in the third quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after acquiring an additional 48,260 shares during the period. FMR LLC grew its stake in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after acquiring an additional 153,362 shares during the period. GSA Capital Partners LLP grew its stake in Lemonade by 31.0% in the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after acquiring an additional 42,822 shares during the period. Finally, Millennium Management LLC grew its stake in Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after acquiring an additional 131,784 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.