Lemonade, Inc. (NYSE:LMND) Receives Consensus Recommendation of “Reduce” from Analysts

Lemonade, Inc. (NYSE:LMND) has earned a consensus rating of “Reduce” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $31.00.

Separately, Piper Sandler decreased their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th.

Lemonade Trading Down 6.0 %

Shares of Lemonade stock opened at $28.19 on Wednesday. The stock has a 50 day moving average of $34.36 and a 200 day moving average of $32.39. Lemonade has a 12 month low of $14.03 and a 12 month high of $53.85. The firm has a market cap of $2.05 billion, a PE ratio of -9.27 and a beta of 2.13.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.19. The company had revenue of $148.80 million for the quarter, compared to the consensus estimate of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. As a group, equities research analysts forecast that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the transaction, the insider now owns 10,494,636 shares of the company’s stock, valued at $389,141,102.88. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Sheldon Peters sold 1,899 shares of Lemonade stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the completion of the transaction, the insider now owns 87,609 shares in the company, valued at approximately $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 248,634 shares of company stock worth $9,219,003. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP increased its position in shares of Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after buying an additional 700 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Lemonade during the 4th quarter valued at about $40,000. Russell Investments Group Ltd. raised its position in Lemonade by 318.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after acquiring an additional 867 shares during the last quarter. BNP Paribas acquired a new position in Lemonade during the fourth quarter worth about $57,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Lemonade by 116.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock valued at $59,000 after purchasing an additional 860 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

About Lemonade

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.