Michael Eisenberg, a director at Lemonade, Inc. (NYSE:LMND), recently sold 12,000 shares of the company's common stock. The insurance technology company, currently valued at $3.12 billion, has seen its stock surge nearly 194% over the past six months according to InvestingPro data. The shares were sold on December 13 at a weighted average price of $40.15, amounting to a total transaction value of $481,800. The stock, which currently trades at $43.75, has shown significant price volatility according to InvestingPro analysis. Following this sale, Eisenberg directly owns 94,670 shares. Additionally, he holds indirect ownership of shares through Aleph, L.P. and Aleph-Aleph, L.P., with 1,708,717 and 170,026 shares respectively. For deeper insights into Lemonade's valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Lemonade Inc (NYSE:LMND). has been the focus of multiple analyst adjustments. Jefferies raised its price target to $20, retaining an underperform rating, while JMP Securities increased their target to $60, maintaining a Market Outperform rating. Piper Sandler adjusted its target from $25.00 to $44.00, maintaining a neutral rating, and BMO Capital Markets raised its target to $15, keeping an underperform rating. Morgan Stanley (NYSE:MS) moved from an Underweight to an Equal-weight rating, setting a price target of $42.00.
The company has shown strong revenue growth of 22% over the last twelve months, reaching $492.5 million. Lemonade's third-quarter financials show significant 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 outlined ambitious growth plans during its investor day, with a roadmap to longer-term profitability and an estimation to grow its in-force premium to $10 billion in the coming years. Analysts project further improvements for Lemonade, with Q4 2024 in-force premium projections being between $940 million to $944 million, and revenue projections being $144 million to $146 million. The company aims to achieve consistent positive cash flow from operations by the end of 2024.
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