John Sheldon Peters, director of insurance at Lemonade, Inc. (NYSE:LMND), recently sold $1,120,849 worth of stock, according to its most recent filing with the SEC. The insurance technology company, currently valued at $2.72 billion, has seen its stock rise over 134% over the past six months, according to InvestingPro data. The transactions, executed on December 30, involved the sale of a total of 28,985 shares at a price of $38.67 each. These sales were made under a Rule 10b5-1 trading plan. InvestingPro analysis shows that the stock typically experiences high price volatility, with the current price trading at $37.95.
In addition, Peters exercised options to acquire 30,000 shares in three separate transactions on December 30, December 31, and January 2. The exercise prices for these options ranged from $2.65 to $5.26 per share, totaling $105,600.
Following these transactions, Peters directly holds 89,508 shares.
In other recent news, Lemonade Inc (NYSE:). was subject to numerous adjustments by analysts. Jefferies raised its price target on Lemonade to $20, while maintaining an underperform rating. Even so, the company revised its revenue projections upward following Lemonade’s recent investor day. In the same vein, JMP Securities raised its price target on Lemonade to $60, citing its advanced use of artificial intelligence technology and potential for growth. On the other hand, Piper Sandler raised its price target on Lemonade from $25.00 to $44.00, maintaining a neutral rating, following the company’s investor day. BMO Capital Markets also adjusted its outlook, raising its price target to $15, although it maintained an underperform rating. In the end, Morgan Stanley (NYSE:) had its rating upgraded from Underweight to Equal-weight, setting a price target of $42.00.
Lemonade’s recent financials show substantial growth, with premiums in force up 24% to $889 million, customer base up 17% to 2.3 million, and gross profit up 71% over last year to 37 million dollars. The company also aims to achieve consistent positive cash flow from operations by the end of 2024. Analysts forecast Lemonade’s Q4 2024 premium to be between $940 million and $944 million, with revenue projections of $144 million to $146 million. These recent developments reflect Lemonade’s ambitious growth plans and strategic expansions, particularly in auto insurance.
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