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

Lemonade, Inc. (NYSE:LMND) has been given a consensus recommendation of “Reduce” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $32.67.

Several brokerages have recently commented on LMND. Piper Sandler boosted their price objective on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. JMP Securities boosted their target price on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets boosted their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $42.00 in a research report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other news, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now owns 189,653 shares of the company’s stock, valued at approximately $9,482,650. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Sheldon Peters sold 1,790 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $45.50, for a total value of $81,445.00. Following the transaction, the insider now directly owns 88,493 shares in the company, valued at approximately $4,026,431.50. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 846,945 shares of company stock valued at $37,496,684 over the last ninety days. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp grew its stake in shares of Lemonade by 6.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock valued at $215,000 after buying an additional 375 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Lemonade by 8.4% in the fourth quarter. Ameritas Investment Partners Inc. now owns 5,463 shares of the company’s stock worth $200,000 after purchasing an additional 423 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Lemonade by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock worth $5,545,000 after purchasing an additional 442 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Lemonade by 4.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock worth $390,000 after purchasing an additional 500 shares in the last quarter. Finally, Quarry LP grew its stake in Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Down 2.8 %

Shares of Lemonade stock opened at $36.11 on Tuesday. The stock’s 50-day simple moving average is $36.44 and its 200-day simple moving average is $28.11. Lemonade has a 52 week low of $14.03 and a 52 week high of $53.85. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.88 and a beta of 2.15.

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.