Lemonade, Inc. (NYSE:LMND) Receives $32.67 Consensus PT from Brokerages

Lemonade, Inc. (NYSE:LMND) has been assigned an average rating of “Reduce” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $32.67.

LMND has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target 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. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. JMP Securities lifted their price objective on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Finally, Piper Sandler increased their target price on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st.

Insider Transactions at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of Lemonade stock in a transaction on 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 completion of the sale, the insider now owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Sheldon Peters sold 28,985 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the completion of the sale, the insider now owns 69,508 shares of the company’s stock, valued at $2,687,874.36. This represents a 29.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 900,499 shares of company stock valued at $39,114,376. 12.50% of the stock is owned by insiders.

Institutional Trading of Lemonade

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of Lemonade by 4.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock valued at $390,000 after acquiring an additional 500 shares in the last quarter. Axiom Advisory LLC grew its holdings in Lemonade by 1.6% during the third quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock valued at $897,000 after purchasing an additional 850 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Lemonade in the fourth quarter valued at approximately $40,000. Blue Trust Inc. lifted its stake in shares of Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 1,879 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Lemonade by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after buying an additional 2,017 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Stock Down 1.4 %

Shares of NYSE:LMND opened at $32.37 on Friday. The company has a market cap of $2.31 billion, a PE ratio of -10.65 and a beta of 2.17. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The firm has a 50-day simple moving average of $40.15 and a 200 day simple moving average of $26.46.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Lemonade’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.88) EPS. As a group, research analysts forecast 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.