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

Shares of Lemonade, Inc. (NYSE:LMND) have earned a consensus recommendation of “Reduce” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $30.43.

Several analysts have issued reports on the company. JMP Securities lifted their price target on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. BMO Capital Markets lifted their target price on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods downgraded 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 report on Thursday, November 7th. Piper Sandler raised their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group cut their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th.

Insider Activity

In other news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $44.29, for a total value of $31,880,606.35. Following the sale, the insider now directly owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. This represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maria Angelidis-Smith purchased 18,512 shares of Lemonade stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average price of $27.42 per share, with a total value of $507,599.04. Following the acquisition, the director now directly owns 18,512 shares of the company’s stock, valued at $507,599.04. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 871,514 shares of company stock valued at $37,993,527. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LMND. Marshall Wace LLP bought a new position in Lemonade during the second quarter worth $14,181,000. General Equity Holdings LP bought a new stake in shares of Lemonade during the 2nd quarter worth about $5,198,000. FMR LLC boosted its holdings in shares of Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after buying an additional 153,362 shares during the period. Millennium Management LLC raised its holdings in Lemonade by 388.7% in the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after acquiring an additional 131,784 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Lemonade during the third quarter worth approximately $1,571,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Stock Performance

Shares of LMND opened at $39.40 on Monday. The stock has a 50 day simple moving average of $36.36 and a 200 day simple moving average of $24.36. Lemonade has a 52-week low of $14.03 and a 52-week high of $53.85. The firm has a market capitalization of $2.81 billion, a PE ratio of -12.96 and a beta of 2.09.

Lemonade (NYSE:LMND) last released its quarterly earnings results 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. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the prior year, the company earned ($0.88) earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts predict that Lemonade will post -3.04 EPS for the current fiscal 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.