Lemonade, Inc. (NYSE:LMND) Receives Average Rating of “Reduce” from Brokerages

Lemonade, Inc. (NYSE:LMND) has earned an average rating of “Reduce” from the seven brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $30.43.

Several analysts have recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets lifted their price objective on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Piper Sandler increased their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Finally, JMP Securities increased their price objective on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd.

Insiders Place Their Bets

In other news, COO Adina Eckstein sold 23,644 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total value of $945,760.00. Following the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at $7,586,120. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Sheldon Peters sold 1,790 shares of Lemonade stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $45.50, for a total value of $81,445.00. Following the sale, the insider now directly owns 88,493 shares of the company’s stock, valued at approximately $4,026,431.50. This trade represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 871,514 shares of company stock valued at $37,993,527. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lemonade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after acquiring an additional 14,028 shares during the last quarter. Marshall Wace LLP bought a new stake in Lemonade in the second quarter valued at approximately $14,181,000. Landscape Capital Management L.L.C. raised its holdings in Lemonade by 17.6% in the third quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after purchasing an additional 48,260 shares during the period. FMR LLC raised its holdings in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the period. Finally, General Equity Holdings LP acquired a new position in shares of Lemonade in the 2nd quarter valued at $5,198,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Price Performance

Lemonade stock opened at $39.40 on Monday. The business has a 50 day simple moving average of $36.36 and a 200 day simple moving average of $24.36. Lemonade has a one year low of $14.03 and a one year high of $53.85. The company has a market capitalization of $2.81 billion, a PE ratio of -12.96 and a beta of 2.09.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.07. The company had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.88) EPS. Equities analysts anticipate that Lemonade will post -3.04 earnings per share for the current fiscal year.

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.