Shares of Lemonade, Inc. (NYSE:LMND – Get Free Report) have been assigned an average rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $63.50.
Several equities research analysts recently weighed in on LMND shares. Piper Sandler decreased their price target on Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Morgan Stanley cut their price objective on shares of Lemonade from $56.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods upgraded shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price for the company in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Lemonade from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th.
View Our Latest Stock Analysis on Lemonade
Lemonade Stock Performance
Lemonade (NYSE:LMND – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.56). The firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business’s revenue was up 79.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.60) earnings per share. As a group, research analysts forecast that Lemonade will post -1.86 EPS for the current fiscal year.
Insider Activity at Lemonade
In other news, insider John Peters sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the sale, the insider directly owned 76,942 shares of the company’s stock, valued at $4,043,302.10. This trade represents a 12.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Maya Prosor sold 1,040 shares of Lemonade stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total value of $56,815.20. Following the completion of the sale, the insider owned 186,533 shares in the company, valued at approximately $10,190,297.79. This trade represents a 0.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 15,148 shares of company stock worth $804,250 in the last quarter. 12.20% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of LMND. Farther Finance Advisors LLC boosted its position in shares of Lemonade by 88.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,853 shares of the company’s stock worth $174,000 after purchasing an additional 1,811 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Lemonade during the second quarter worth $1,229,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Lemonade in the 2nd quarter worth about $128,000. NewEdge Advisors LLC boosted its position in shares of Lemonade by 9.7% in the 2nd quarter. NewEdge Advisors LLC now owns 7,041 shares of the company’s stock worth $458,000 after buying an additional 621 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Lemonade in the 2nd quarter valued at about $3,529,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.
About Lemonade
Lemonade, Inc is a technology-driven insurance company that offers insurance products through mobile applications and online platforms. Its business uses artificial intelligence, automation and behavioral economics to simplify policy purchases, claims processing and customer service.
The company provides renters, homeowners, car, pet and term life insurance, with product availability varying by location. Lemonade’s digital platform is designed to allow customers to obtain quotes, manage policies and submit claims without relying primarily on traditional insurance agents.
Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade initially focused on renters insurance before expanding into additional insurance categories.
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