John Sheldon Peters, chief insurance officer of Lemonade, Inc., sold… (NYSE:LMND), recently acquired $1,120,849 worth of stock, according to a recent filing with the Securities and Exchange Commission. The insurtech company, currently valued at $2.72 billion, has seen its shares rise more than 134% in the past six months, according to InvestingPro Data. The transactions, which were executed on December 30, included the sale of a total of 28,985 shares at a price of $38.67 per share. These sales were made under a Rule 10b5-1 trading plan. InvestingPro The analysis indicates that the stock typically experiences high price volatility, with the current trading price at $37.95.
Additionally, Peters exercised options to acquire 30,000 shares via three separate transactions on December 30, December 31 and January 2. The exercise prices of these options ranged from $2.65 to $5.26 per share, for a total of $105,600.
Following these transactions, Peters directly owns 89,508 shares.
In other recent news, Lemonade company (New York Stock Exchange:). It has been the subject of several analyst adjustments. Jefferies raised its price target on Lemonade to $20, maintaining an Underperform rating. Despite this, the company revised its revenue forecasts upward following Lemonade's recent investor day. In the same vein, JMP Securities raised the target price for Lemonade to $60, citing the company's advanced use of artificial intelligence technology and growth potential. On the other hand, Piper Sandler raised its price target on Lemonade stock from $25.00 to $44.00, while maintaining a Neutral rating, following the company's Investor Day. BMO Capital Markets also revised its outlook, raising its price target to $15, though maintaining an Underperform rating. finally, Morgan Stanley (NYSE:) upgraded its rating from Underweight to Equal Weight, and set a price target of $42.00.
Lemonade's latest financials show significant growth, with active premiums up 24% to $889 million, the number of customers up 17% to 2.3 million, and gross profit up 71% year over year to $37 million. The company also aims to achieve consistent positive cash flow from operations by the end of 2024. Analysts expect Lemonade's effective premiums for Q4 2024 to range from $940 million to $944 million, and revenue forecasts range from $144 million to $146 million. These latest developments reflect Lemonade's ambitious growth plans and strategic expansions, especially in the auto insurance space.
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