John Sheldon Peters, the Chief Insurance Officer at Lemonade, Inc. (NYSE:LMND), recently sold shares amounting to $1,120,849, according to a recent SEC filing. The insurance technology company, currently valued at $2.72 billion, has seen its stock surge over 134% in the past six months, according to InvestingPro data. The transactions, executed on December 30, involved selling a total of 28,985 shares at a price of $38.67 each. These sales were conducted under a Rule 10b5-1 trading plan. InvestingPro analysis indicates the stock typically experiences high price volatility, with the current trading price at $37.95.
Additionally, Peters exercised options to acquire 30,000 shares over 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 holds 89,508 shares directly.
In other recent news, Lemonade Inc (NYSE:LMND). has been the subject of numerous analyst adjustments. Jefferies has raised its price target for Lemonade to $20, while maintaining an underperform rating. Despite this, the firm has revised its revenue projections upward following Lemonade's recent investor day. In the same vein, JMP Securities has elevated its price target for Lemonade to $60, citing the company's advanced use of AI technology and potential for growth. On the other hand, Piper Sandler has increased its price target on Lemonade from $25.00 to $44.00, while maintaining a neutral rating, following the company's investor day. BMO Capital Markets has also adjusted its outlook, raising its price target to $15, albeit keeping an underperform rating. Lastly, Morgan Stanley (NYSE:MS) has upgraded its rating from Underweight to Equal-weight, setting a price target of $42.00.
Lemonade's recent financials show substantial growth, with in-force premiums rising by 24% to $889 million, customer count increasing by 17% to 2.3 million, and gross profit surging 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 project Lemonade's Q4 2024 in-force premium to be between $940 million to $944 million, and revenue projection to be $144 million to $146 million. These recent developments reflect Lemonade's ambitious growth plans and strategic expansions, particularly in auto insurance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.