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

Shares of Lemonade, Inc. (NYSE:LMND) have earned a consensus rating of “Reduce” from the six ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $32.67.

LMND has been the subject of a number of recent analyst reports. BMO Capital Markets upped their target price on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and upped their price target for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Jefferies Financial Group reduced their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler upped their price target on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, JMP Securities upped their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd.

Lemonade Stock Performance

Shares of LMND stock opened at $33.12 on Friday. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The stock has a 50 day moving average price of $40.15 and a two-hundred day moving average price of $26.61. The company has a market capitalization of $2.36 billion, a P/E ratio of -10.90 and a beta of 2.17.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.88) earnings per share. As a group, equities analysts predict that Lemonade will post -3.04 earnings per share for the current year.

Insider Activity at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the sale, the insider now directly owns 11,263,569 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, Director Maria Angelidis-Smith acquired 18,512 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the transaction, the director now directly owns 18,512 shares of the company’s stock, valued at $507,599.04. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 900,499 shares of company stock valued at $39,114,376 over the last ninety days. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Watershed Private Wealth LLC bought a new stake in Lemonade during the 4th quarter valued at approximately $286,000. KBC Group NV purchased a new position in Lemonade during the 4th quarter valued at approximately $80,000. Union Bancaire Privee UBP SA purchased a new position in Lemonade during the 4th quarter valued at approximately $67,000. Avior Wealth Management LLC purchased a new position in Lemonade during the 4th quarter valued at approximately $40,000. Finally, Nisa Investment Advisors LLC grew its holdings in Lemonade by 4.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock valued at $390,000 after buying an additional 500 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

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.