Lemonade (NYSE:LMND) Given New $34.00 Price Target at Piper Sandler

Lemonade (NYSE:LMND) had its price objective trimmed by Piper Sandler from $44.00 to $34.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also commented on LMND. BMO Capital Markets raised their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. JMP Securities lifted their target price on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.00.

Lemonade Trading Down 1.7 %

NYSE LMND opened at $31.44 on Wednesday. The stock has a 50-day simple moving average of $35.27 and a 200 day simple moving average of $29.18. The company has a market capitalization of $2.24 billion, a PE ratio of -10.34 and a beta of 2.15. Lemonade has a 12 month low of $14.03 and a 12 month high of $53.85.

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

Insider Buying and Selling at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the completion of the transaction, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Sheldon Peters sold 28,985 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $38.67, for a total value of $1,120,849.95. Following the completion of the transaction, the insider now owns 69,508 shares of the company’s stock, valued at approximately $2,687,874.36. This represents a 29.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 769,657 shares of company stock worth $33,868,724 over the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Lemonade by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock worth $195,999,000 after acquiring an additional 134,776 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Lemonade by 2,627.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock worth $49,494,000 after acquiring an additional 1,299,891 shares during the period. State Street Corp boosted its stake in shares of Lemonade by 1.2% during the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after acquiring an additional 14,028 shares during the period. Two Sigma Investments LP bought a new position in shares of Lemonade during the 4th quarter worth approximately $22,066,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Lemonade during the 4th quarter worth approximately $21,310,000. 80.30% of the stock is currently owned by institutional investors.

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.