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

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average recommendation of “Reduce” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $28.17.

LMND has been the subject of several research reports. Morgan Stanley lowered shares of Lemonade from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $35.00 to $24.00 in a research note on Tuesday, April 8th. Piper Sandler decreased their target price on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 22nd.

Insider Buying and Selling

In other Lemonade news, insider John Sheldon Peters sold 1,494 shares of Lemonade stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $35.25, for a total value of $52,663.50. Following the completion of the sale, the insider now owns 106,115 shares of the company’s stock, valued at approximately $3,740,553.75. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $37.08, for a total value of $7,585,641.00. Following the transaction, the insider now directly owns 10,494,636 shares in the company, valued at approximately $389,141,102.88. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,744,737 shares of company stock worth $87,411,365 in the last quarter. Corporate insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Large investors have recently bought and sold shares of the business. Strategic Financial Concepts LLC bought a new position in Lemonade during the 4th quarter valued at about $2,712,000. The Manufacturers Life Insurance Company raised its holdings in shares of Lemonade by 7.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 31,000 shares of the company’s stock valued at $1,137,000 after purchasing an additional 2,209 shares during the last quarter. Invesco Ltd. lifted its position in Lemonade by 14.0% during the fourth quarter. Invesco Ltd. now owns 76,718 shares of the company’s stock valued at $2,814,000 after purchasing an additional 9,419 shares during the period. Atria Investments Inc purchased a new stake in Lemonade in the fourth quarter worth approximately $353,000. Finally, US Bancorp DE grew its position in Lemonade by 574.5% in the 4th quarter. US Bancorp DE now owns 1,875 shares of the company’s stock worth $69,000 after purchasing an additional 1,597 shares during the period. 80.30% of the stock is currently owned by institutional investors.

Lemonade Stock Performance

Lemonade stock opened at $44.24 on Monday. Lemonade has a fifty-two week low of $14.90 and a fifty-two week high of $53.85. The stock’s 50 day simple moving average is $32.93 and its two-hundred day simple moving average is $34.48. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -14.55 and a beta of 2.14.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative net margin of 38.90% and a negative return on equity of 36.72%. The firm’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.67) EPS. On average, analysts predict that Lemonade will post -3.03 earnings per share for the current year.

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.