Shares of Lemonade, Inc. (NYSE:LMND – Get Free Report) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $64.50.
Several equities research analysts recently weighed in on the company. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Piper Sandler lowered their price target on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Keefe, Bruyette & Woods raised Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a research report on Thursday, July 30th. Finally, Morgan Stanley dropped their price objective on Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Wednesday.
Lemonade Stock Performance
Lemonade (NYSE:LMND – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business had revenue of $294.40 million during the quarter, compared to the consensus estimate of $291.01 million. During the same period in the prior year, the company earned ($0.60) earnings per share. The company’s revenue was up 79.4% compared to the same quarter last year. On average, equities research analysts forecast that Lemonade will post -1.83 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Maya Prosor sold 1,220 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the transaction, the insider owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 11,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the transaction, the insider owned 76,942 shares of the company’s stock, valued at approximately $4,043,302.10. This trade represents a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,007 shares of company stock worth $1,198,251. Corporate insiders own 12.20% of the company’s stock.
Institutional Investors Weigh In On Lemonade
A number of institutional investors have recently modified their holdings of LMND. Vanguard Group Inc. lifted its stake in Lemonade by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock worth $448,822,000 after purchasing an additional 26,312 shares during the last quarter. BlackRock Inc. bought a new position in Lemonade in the 2nd quarter worth about $393,408,000. Price T Rowe Associates Inc. MD increased its position in Lemonade by 186.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after acquiring an additional 965,321 shares during the period. Geode Capital Management LLC raised its stake in shares of Lemonade by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company’s stock valued at $102,400,000 after purchasing an additional 67,562 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Lemonade by 28.1% in the 2nd quarter. Bank of America Corp DE now owns 993,669 shares of the company’s stock worth $43,533,000 after acquiring an additional 217,913 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
Lemonade Company Profile
Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.
The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.
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