Lemonade (NYSE:LMND) Given New $14.00 Price Target at Jefferies Financial Group

Lemonade (NYSE:LMND) had its target price decreased by Jefferies Financial Group from $15.00 to $14.00 in a research note published on Wednesday, Benzinga reports. Jefferies Financial Group currently has an underperform rating on the stock.

Lemonade Trading Up 2.8 %

Shares of LMND stock opened at $17.39 on Wednesday. The stock has a 50 day simple moving average of $17.25 and a 200-day simple moving average of $17.41. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -5.86 and a beta of 1.77. Lemonade has a 12-month low of $10.27 and a 12-month high of $24.55.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.07. The firm had revenue of $122.00 million during the quarter, compared to analysts’ expectations of $121.77 million. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. Lemonade’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.97) earnings per share. On average, equities analysts forecast that Lemonade will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.50% of the stock is owned by insiders.

Institutional Trading of Lemonade

Large investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of Lemonade in the second quarter valued at about $14,181,000. General Equity Holdings LP purchased a new stake in Lemonade in the 2nd quarter valued at approximately $5,198,000. GSA Capital Partners LLP purchased a new stake in Lemonade in the 1st quarter valued at approximately $3,100,000. Millennium Management LLC grew its holdings in Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after buying an additional 131,784 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in Lemonade during the second quarter worth $737,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Company Profile

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.